Circle's euro-backed stablecoin EURC has moved past €400 million in circulation, with Circle executives saying on Aug. 14 that the token had crossed the threshold and the issuer's website showing €402.4 million outstanding as of Aug. 13. EURC, which launched on Ethereum in 2022 and later expanded to Avalanche, Stellar, Solana and Base, has risen from roughly €80 million around MiCA's December 2024 start to €310 million at the end of 2025, making it the first euro-pegged stablecoin to clear the €400 million mark. Circle issues EURC in France as a MiCA e-money token under ACPR supervision, with segregated reserves, monthly attestations and one-to-one euro redemption, while integrations from Visa, Mastercard, Thunes, Fireblocks, Copper and Cobo have widened its use in payments and settlement. Even so, dollar tokens still dominate the sector, with the BIS saying nearly 98% of stablecoin value is dollar-denominated, even as EURC took more than half of the euro stablecoin market and Brussels continues to review cross-border issuance and settlement rules.