Decta said eight compliant euro stablecoins expanded ahead of the EU CASP deadline, though dollar-backed tokens still dominate liquidity and market share globally.
MiCA-compliant euro stablecoins expanded sharply in the year before the European Union’s crypto-asset service provider transition period ended, with combined market capitalization rising 128% to $673.9 million on June 28, 2026, from $295.6 million on June 30, 2025, Decta said. Trading volume increased 43.1% to $67.3 million from $47 million, while the number of tracked compliant euro stablecoins rose to eight from five. Decta said EURC, EURCV and EURI accounted for most of the increase, with EURC remaining the largest euro stablecoin in the report. The findings come just after the July 1, 2026 CASP licensing deadline and after regulated EU exchanges removed USDT when Tether chose not to seek MiCA authorization, creating more room for compliant tokens such as USDC and EURC on licensed platforms. Even so, euro stablecoins remain a small part of the broader stablecoin market: CoinGecko data put the sector at about $308 billion, with USDT near $184.2 billion and USDC near $73 billion. The report adds to an ongoing policy debate over whether MiCA is helping build a safer euro stablecoin market or making it less competitive through stricter reserve rules and limits on issuer activity.