Circle’s euro-backed stablecoin EURC has crossed €400 million in circulation, with supply more than doubling over the past year. The company reported on Aug. 17 that EURC circulation had increased by more than 100% year over year, and its EURC page showed €402.4 million in circulation as of Aug. 13, 2026.
The growth follows a multi-year expansion from roughly €80 million at the end of 2024. EURC originally launched on Ethereum in June 2022, before Circle extended native issuance to Avalanche, Stellar, Solana and Base from 2023 onward. Supply then climbed sharply through 2025 and into 2026, supported by broader distribution across exchanges, payment networks and institutional platforms.
Circle said exchanges including Bitpanda, Bitstamp, Bybit, Coinbase and Kraken have listed EURC, providing access to EURC/EUR and EURC/USD markets without converting through dollar stablecoins. Institutional access has expanded through custody and settlement providers such as Cobo, Copper and Fireblocks, while fiat on/off-ramp providers Mercuryo, MoonPay, Ramp and Transak have integrated EURC.
Payment integrations have also widened. Mastercard and Circle expanded stablecoin settlement in August 2025 to support USDC and EURC for acquirers in parts of Eastern Europe, the Middle East and Africa. Visa and Mastercard integrations during 2024 and 2025 opened additional use cases in cross-border transfers, card-linked payments and euro-denominated settlement.
Regulatory clarity has been central to EURC’s European expansion. Circle operates EURC as a MiCA-compliant electronic money token through Circle Mint France, which received an Electronic Money Institution licence from French regulators in July 2024. EURC reserves are segregated from corporate funds and subject to monthly third-party attestations, while eligible institutions can redeem tokens one-to-one for euros.
In September 2025, Deutsche Börse agreed to integrate Circle stablecoins into parts of its European market infrastructure, covering EURC and USDC trading through 360T’s digital exchange 3DX and institutional custody through Clearstream. Circle has also asked EU policymakers to adjust parts of the proposed Market Integration Package, arguing that some requirements could restrict institutional settlement using electronic money tokens.
Euro stablecoin circulation overall rose from around €400 million on June 1, 2025 to about €650 million by June 1, 2026. Circle cited total global stablecoin supply of roughly $300 billion at the start of 2026. Competition is increasing as the Qivalis banking consortium expanded to 37 institutions and prepares a MiCA-compliant euro stablecoin with approval sought from the Dutch central bank.
The company argues its addressable market remains far larger than current circulation, citing euro-area M2 money supply of more than €16 trillion in late 2025 versus roughly €650 million held across euro stablecoins by June 2026.
