eurc

The euro stablecoin market is undergoing a regulatory-driven structural transformation. The implementation of the EU MiCA regulation provides a clear compliance framework for the market, directly driving the growth in market capitalization and institutional participation. Although the current scale of $683 million is negligible compared to dollar stablecoins, its doubling growth rate and explosive trading volume increase of leading tokens (such as EURC's 1139%) indicate that this is not natural growth, but rather a concentrated release of demand following regulatory clarity.
The core role of MiCA is that it addresses the trust issues surrounding stablecoins. The regulation clears the way for traditional financial institutions by mandating transparency, auditing, and compliant issuance of reserve assets. The EURCV from Société Générale, Circle's EURC, and the latest Qivalis project launched by a coalition of nine major European banks all confirm this: traditional banks are no longer on the sidelines but are actively using stablecoins as new settlement and service tools. This essentially brings the trust endorsement of traditional finance into the crypto space.

Impressive Growth of USDC
According to reports from Circle, the stablecoin $USDC has achieved an astonishing growth of 78% in 2024. The total monthly transaction value of USDC exceeded $1 trillion in November 2024, and the total transaction value to date surpassed $20 trillion.
USDC currently has over 500 million users worldwide and is supported on 16 blockchains, having converted over $850 billion between fiat currencies.

AllUnity, a joint venture between Deutsche Bank and its DWS investment management arm, along with digital asset company Galaxy and market maker Flow Traders, is preparing to launch a euro stablecoin compliant with MiCA standards after obtaining an Electronic Money Institution (EMI) license from the German financial regulatory authority BaFin.