Euro stablecoins pass $1 billion milestone
Ethereum leads euro stablecoin issuance, but deployment is spreading to multiple blockchains focused on payments and cross-border settlements.
Euro-denominated stablecoins have surpassed $1 billion in circulating supply, according to industry data, marking a significant milestone but remaining relatively insignificant within Europe’s broader monetary system. The total represents just 0.006% of the eurozone’s estimated $15.5 trillion M2 money supply.
Issuance activity was limited during 2020 and 2021, before accelerating from late 2023 onwards. Growth has continued through 2024 and into 2025, signalling renewed interest in tokenised euro products despite their small overall footprint.
Ethereum still hosts the largest share of euro stablecoins, although issuance has expanded to other blockchain networks, including Solana, Polygon, Arbitrum, Base, Avalanche, and Stellar. The shift reflects a move toward multi-chain deployment, focusing on payments, settlement, and cross-border transfers.
Euro stablecoins remain far smaller than dollar-based tokens, which continue to dominate on-chain liquidity and settlement. The euro’s limited digital presence highlights growth potential if regulation and institutional adoption advance.
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