EURC surpasses €400M in circulation, marking euro liquidity milestone

Circle’s euro-pegged stablecoin EURC has crossed the €400 million circulation mark, roughly doubling its supply over the past twelve months. For a token that launched just four years ago into a market where the US dollar dominates roughly 99% of stablecoin activity, that’s a number worth paying attention to. The milestone, reached in August 2026, puts EURC’s circulating supply somewhere between 393 and 406 million tokens. Each one is redeemable 1:1 for euros, backed by reserves held in regulated European banks and verified through monthly independent attestations. Think of it as the euro’s answer to USDC, built by the same company with the same full-reserve playbook. MiCA changed the game The acceleration in EURC adoption didn’t happen in a vacuum. It lines up neatly with the enforcement of the European Union’s Markets in Crypto-Assets regulation, better known as MiCA. MiCA created a clear compliance framework for stablecoins operating in Europe. Tokens that met the requirements got a regulatory green light. Those that didn’t faced delisting pressure from major exchanges. EURC, designed from the start with regulatory alignment in mind, was positioned to benefit from that sorting pr...