Circle’s euro stablecoin EURC doubles market cap to $430 million this year

Circle’s euro-denominated stablecoin EURC has grown sharply since the start of the year, with its market capitalization rising from about $205 million to $430 million, according to a Techub News brief citing CryptoBriefing. That increase of more than $110 million lifted EURC’s share of the euro stablecoin market from 17% to above 40%. The report said the shift came after the European Union’s Markets in Crypto-Assets framework, or MiCA, was fully implemented. Under that regime, Tether’s EURT exited the market because it was not compliant. Circle, by contrast, secured access across the European Union through its electronic money license in France. The update also pointed to recent product and usage momentum for EURC. The stablecoin has recently launched on Base, where its daily active addresses reached a record high. Circle is also exploring payment integration with Visa as it looks to expand EURC into retail payment use cases.