Visa: Euro Stablecoins Dominate Non-Dollar Market; EURC Leads Volumes
A new Visa report finds euro-denominated stablecoins account for more than 80% of all non-dollar stablecoin supply, with EURC leading on trading volumes. The shift highlights growing regional demand for euro liquidity on-chain, positioning euro stablecoins as the primary alternative to dollar-pegged tokens in cross-border and domestic euro-area use cases.
Visa attributes the surge to clearer regulation under MiCA and the rollout of payment-rail integrations that streamline fiat on‑ and off‑ramps. For market participants and payment providers, that means faster settlement, improved rails for P2P and merchant payments, and stronger onramps for tokenized euro liquidity — though the concentration also raises questions about market concentration and regulatory focus going forward.