Circle’s euro-pegged stablecoin EURC has passed the €400 million circulation mark in August 2026, with circulating supply estimated at 393 million to 406 million tokens after roughly doubling over the past year. Each token is redeemable 1:1 for euros and backed by reserves held in regulated European banks, with monthly independent attestations. The growth comes as MiCA (European Union crypto rulebook) creates a clearer framework for compliant stablecoins in Europe, pushing exchanges to review or remove non-compliant tokens. That has helped consolidate the euro stablecoin market around regulated options, with EURC estimated to hold 41% to 65% market share depending on the data source. EURC now operates across Ethereum, Solana, Avalanche, Stellar, and Base, supporting uses from DeFi (blockchain-based financial services) to payments and institutional transfers. Circle’s recent payment integrations, including with Thunes, point to a broader role for EURC as settlement infrastructure rather than only a trading asset.