According to the European Central Bank (ECB), U.S. dollar-backed stablecoins such as USDT and USDC account for about 99% of issuance, while euro-backed coins remain limited but expanding.
The European Central Bank (ECB) reported that as of November 2025, stablecoins pegged to the U.S. dollar—including major tokens like Tether (USDT) and USD Coin (USDC)—represent approximately 99% of global stablecoin issuance. In contrast, euro-pegged stablecoins remain relatively small, totaling around €615 million. However, their growth trajectory is notable, with several European Union (EU) banks preparing to launch a euro-denominated stablecoin by 2026. The data showcases the enduring dominance of U.S. dollar liquidity in the digital asset market and highlights European efforts to strengthen domestic currency alternatives.