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EUR Stablecoin Market Stats — August 2026

The EUR stablecoin market hit an all-time high of ~€757M in August 2026, up 11.8% in 30 days — the strongest month on record. EURCV surged 31% to a 20% share, Crédit Agricole launched EURXT, the ECB named 36 digital euro pilot firms, and the post-MiCA USDT exodus is finally showing up in euro supply.

EUR Stablecoin Market Stats — August 2026
eurooo.xyz3 August 2026

EUR Stablecoin Market Overview — August 2026

For the first time since these reports began, the headline number goes up — and not by a little.

As of August 3, 2026, the total circulating supply of EUR-denominated stablecoins stands at approximately €757 million (≈$873M at current EUR/USD), per DefiLlama. That is up 11.8% over the past 30 days and roughly 16% above the July 1 reading of €650M. The market touched €751.8M on August 1 — an all-time high for euro stablecoins, clearing both the June 8 peak of ~€705M and the previous cycle high of ~€721M set back in 2022.

There are now 25 EUR stablecoins tracked across 26 blockchains, up from 18 a month ago — though several of the newcomers are small, and one of the largest new entrants is not an EEA issuer at all.

The four-month contraction that defined spring 2026 is over. What replaced it is the first genuine post-MiCA growth month: the transitional period ended on June 30, USDT came off every licensed European venue, and the capital that had to go somewhere is now visibly landing in euro-denominated, MiCA-authorised tokens. Euro stablecoin market cap grew 128% in the year to June 28, 2026 — from $295.6M to $673.9M — and July added more supply in a single month than the entire first quarter did.

Top 10 EUR Stablecoins by Market Cap

Full ranking by circulating supply as of August 3, 2026.

1. EURC (Circle) — €455.1M (60.1% market share) EURC added €13.9M over the month (+3.1%) to reach its highest circulating supply ever. But note what happened to its share: 60.1%, down from 61% in July and well off its 65.5% reading in May. EURC is growing in absolute terms while losing relative ground — the healthiest possible sign for the market, because it means the growth is broadening rather than concentrating. EURC is now live on 10 chains including Ethereum, Base, Solana, Avalanche, Stellar and Stripe's new Tempo network, and remains listed on every licensed EU exchange.

2. EURCV / EUR CoinVertible (SG Forge) — €152.8M (20.2%) The story of the month. EURCV grew 31.3% (+€36.4M) — the largest absolute monthly gain any euro stablecoin has ever posted — and crossed a 20% market share for the first time. Over the year to June, EURCV grew 180.6%, more than any major peer. The four-chain deployment completed in June (Ethereum, Stellar, XRP Ledger, Solana), Wintermute's dedicated market-making, and the removal of whitelisting restrictions have turned a bank-issued institutional token into the second real liquidity venue in euro stablecoins. At €17.5M in average weekly volume it is also the second most actively traded.

3. EURI / Eurite (Banking Circle) — €38.2M (5.0%) EURI grew a modest 4.0% and holds third place for a fifth consecutive month. Available on Ethereum and BSC. Steady, unspectacular, compliant — which in this market has been enough.

4. EURE / Monerium EUR emoney — €32.9M (4.3%) EURE added 9.8% to €32.9M, its best month of the year. Monerium remains the most broadly deployed euro stablecoin by chain count — Gnosis, Ethereum, Arbitrum, Polygon, Linea, Noble and more — and its IBAN-native design is drawing volume as European payment flows move on-chain.

5. REUR / Royal Euro — €17.3M (2.3%) — new entry A newcomer that requires a caveat. REUR is issued by RIB Digital Holdings Limited, Hong Kong under the RCOINS programme, deployed on BSC, Tron and Ethereum. It appeared on DefiLlama's euro list this month at €17.3M, which places it fifth by size. It is not a MiCA e-money token and is not authorised for offer to EU retail users. Its inclusion in market-cap tables inflates the "euro stablecoin" total with supply that cannot legally circulate on licensed European venues — worth remembering when comparing this month's number to earlier ones.

6. EUROP / Schuman EUROP — €14.1M (1.9%) EUROP grew 78.9% — the fastest percentage gain among established issuers — nearly doubling from €7.9M. Now on six chains (Ethereum, Solana, Avalanche, Polygon, Plasma, XRP Ledger). Schuman also confirmed DFNS as its wallet infrastructure for issuance and distribution. Founder Martin Bruncko has publicly argued that euro stablecoins will eventually pass €100B in market cap — a 130x from here, but the growth curve is at least pointing the right way.

7. EURQ / Quantoz EURQ — €8.9M (1.2%) The month's notable decliner, down 11.5%. EURQ is an outlier in that its trading volume (~$12.9M weekly) far exceeds what its supply would suggest — it functions more as a transactional rail than a store of value, so supply dips do not necessarily indicate weakness.

8. EURS / Stasis Euro — €8.2M (1.1%) Flat at €8.2M across Ethereum, Polygon, Stellar, Algorand and others. EURS was removed from the ESMA register following its 2024 suspension and no longer counts as MiCA-compliant.

9. EURR / StablR Euro — €7.5M (1.0%) Flat on Ethereum and Solana, with ~$4.3M average weekly volume.

10. EURT / Euro Tether — €4.8M (0.6%) Unchanged and still winding down. Tether never sought EMT authorisation and has now fully exited regulated European markets.

Other EUR Stablecoins (Ranked 11–19)

11. EURm / Mento Euro — €3.8M (0.5%) — up 86.2%, the largest percentage gain of any euro stablecoin this month. Now on Celo, Monad, Solana, Polygon and Ethereum. 12. IBEUR / Iron Bank EURO — €3.5M (0.5%) — flat, Ethereum only. 13. EURA (Angle Protocol) — €1.8M (0.2%) — winding down. Redemption 1:1 into EURC or USDC on Ethereum remains open until March 1, 2027. 14. dEURO / Decentralized Euro — €1.7M (0.2%) — new to the tracked list, across five chains. 15. PAR / Parallel — €1.3M (0.2%) 16. sEUR — €1.15M (0.2%) 17. AEUR / Anchored Coins — €1.1M (0.1%) 18. EURAU / AllUnity EUR — €1.1M (0.1%) — flat this month, but now deployed on Ethereum, Base, Tempo, OP Mainnet and Polygon. The Deutsche Börse/Clearstream distribution pathway has yet to translate into supply. 19. VEUR / VNX EURO — €1.1M (0.1%) — 11 chains, the widest deployment of any small issuer.

Also tracked below €1M: EURW (Newrails, −54%), EUROe, EURO3, ARYZE eEUR, Harbor haEUR, Quantoz EURD.

EUR Stablecoin Market Share Distribution

Market share in August 2026:

  • EURC — 60.1%
  • EURCV — 20.2%
  • EURI — 5.0%
  • EURE — 4.3%
  • REUR — 2.3%
  • EUROP — 1.9%
  • EURQ — 1.2%
  • EURS — 1.1%
  • All others — 3.9%

The top three account for 85.3% of supply — statistically unchanged from July's 85%, but the composition underneath has shifted meaningfully. A year ago this was a one-token market with a long tail. It is now a two-token market: EURC at 60% and EURCV at 20% together hold four fifths of all euro stablecoin supply, and EURCV's rise is the first time any issuer has credibly challenged Circle's structural dominance in euro.

That matters for reasons beyond league tables. A market with one dominant token has one point of failure and no price competition on redemption, spreads or integrations. Two liquid venues is the minimum viable condition for the euro stablecoin market to behave like a market.

Blockchain Distribution of EUR Stablecoins

EUR stablecoins are deployed across 26 blockchains. By supply:

  • Ethereum — €537.0M (~71%)
  • Solana — €59.5M (~7.9%)
  • Base — €57.5M (~7.6%)
  • Gnosis — €22.7M (~3.0%)
  • Stellar — €21.3M (~2.8%)
  • BSC — €10.9M (~1.4%)
  • Avalanche — €8.1M (~1.1%)
  • Tron — €6.9M (~0.9%)
  • Polygon — €5.7M (~0.8%)

Ethereum's share has risen this month, reversing the gradual erosion seen through spring. The reason is straightforward: the two biggest inflows of the month — EURCV's €36M and EURXT's launch — were both Ethereum-first institutional issuances. Institutional euro settlement is defaulting to Ethereum mainnet, while retail and payments activity continues to distribute across Solana, Base and Gnosis.

Two newer names are worth watching in the chain column: Stellar, now at €21.3M on the back of EURCV and EURC deployments, and Tempo, the Stripe/Paradigm payments chain live on mainnet since March, which now carries both EURC and EURAU.

What Happened This Month

Crédit Agricole launched EURXT — the second major European bank stablecoin in six months. On July 1, CACEIS, Crédit Agricole's asset-servicing arm, launched EURXT, an ERC-20 MiCA e-money token backed 1:1 by euros held on CACEIS Bank's balance sheet, with roughly €20M issued at launch. The first issuance settled a subscription into an Amundi Luxembourg UCITS money market fund — described as the first fund subscription in Europe settled with a euro stablecoin. EURXT is deliberately not a retail product: it targets fund distribution, custody and settlement workflows. It does not yet appear in DefiLlama's tracked supply, so the €757M headline understates the true euro token float by roughly €20M. Between SG Forge, CACEIS and the 37-bank Qivalis consortium, three of Europe's largest banking groups are now building euro settlement rails in parallel.

The digital euro moved from paper to pilot. Two decisions in one week. On July 9, the European Parliament voted 416 to 169 to enter formal trilogue negotiations with member states and the Commission, targeting final legislation by end-2026 and formal approval in early 2027. On July 14, the ECB named 36 payment service providers — selected from more than 50 applicants — to run a 12-month pilot alongside 19 national central banks. Participants begin systems preparation in Q3 2026; the pilot itself starts in H2 2027; a public launch is not plausible before 2029. That timeline is the single most important fact for euro stablecoin issuers: they have roughly three years of open field before a central bank alternative exists, and the ECB's own framing — that MiCA left Europe dollar-dependent — makes clear the digital euro is being built as a competitor to dollar stablecoins, not to EURC and EURCV specifically.

Revolut's USDT exit put a date on the migration. Revolut, with 75 million customers and a Cypriot CASP licence, is removing USDT for all EEA and Swiss users. Deposits stopped July 30; customers can sell or withdraw until August 31, after which remaining balances auto-convert to fiat at prevailing rates. In the run-up, Revolut saw roughly $855M of USDT activity in a single week and $2B in a month — not demand, but an exodus. This is the clearest mechanical explanation for July's euro supply jump, and the August 31 auto-conversion deadline means the flow is not finished.

The CASP register grew 50% in four weeks. At the July 1 deadline roughly 210 firms held full authorisation. By July 27 that number had reached ~309 verified entries on the ESMA register, with some trackers counting 322 across 27 EEA states. National regulators are clearing the backlog weekly. The "83% of firms are unlicensed" statistic from July is already stale — the real figure is improving fast, though still far from the 1,200+ that once held national VASP registrations.

Binance remains locked out. Having withdrawn its Greek application on June 24, Binance has confirmed it will pursue authorisation in France, where roughly 2 million users lost spot, margin and futures access on July 1. Funds remain withdrawable. No French licence has been granted as of early August. Every week Binance stays out is volume permanently redistributed to the licensed venues — and euro pairs are the direct beneficiary.

Qivalis is still pre-launch. The 37-bank consortium — ABN AMRO, Rabobank, Nordea, Intesa Sanpaolo, BNP Paribas, CaixaBank and others across 15 countries — remains in licensing with De Nederlandsche Bank, targeting H2 2026. Reserve design is now public: at least 40% in bank deposits, the remainder in short-dated eurozone government bonds, with 24-hour redemption. With five months left in the half, this is the largest single unpriced variable in the euro stablecoin market.

Key Takeaways for August 2026

  1. This is the first real growth month, and it is a record. €757M is an all-time high for euro stablecoins, clearing both the June 2026 peak and the 2022 cycle high. Four months of contraction have been fully reversed in one.
  2. The growth is mechanical, not speculative. USDT is being force-converted off European platforms on a published schedule, and Revolut's August 31 auto-conversion means the largest single tranche has not yet cleared. Expect the September report to show whether this was a one-off or a trend.
  3. EURCV's 31% month is the structural story. Euro stablecoins now have a genuine number two. A 60/20 split is a different market from a 65/14 split — it introduces competition on spreads, integrations and institutional terms for the first time.
  4. European banks have stopped talking and started shipping. SG Forge is at €153M, CACEIS launched EURXT on day one of the new regime, and Qivalis has 37 banks behind it. The bank-issued euro stablecoin thesis is no longer a 2027 story.
  5. The digital euro is three years away, and that is the window. Pilot in H2 2027, legislation in early 2027, launch no earlier than 2029. Private euro stablecoins have a clear runway — and the ECB has said plainly the problem it is solving is dollar dependence, not private euro tokens.
  6. Read the €757M with care. Roughly €17M of it is REUR, a Hong Kong-issued token that is not MiCA-authorised. Strictly MiCA-compliant euro supply is closer to €730M.

Frequently Asked Questions

What is the total EUR stablecoin market cap in August 2026? Approximately €757 million as of August 3, 2026 (≈$873M), per DefiLlama — up 11.8% over 30 days and an all-time high for the sector. The market peaked at €751.8M on August 1, clearing the previous record of ~€721M from 2022. Note that ~€17M of the total is REUR, a non-MiCA Hong Kong-issued token; compliant euro supply is closer to €730M.

Why did euro stablecoin supply jump in July 2026? The MiCA transitional period ended June 30, and USDT was removed from every licensed European exchange. Users holding USDT on EU platforms have had to convert — Revolut alone processed roughly $2B of USDT activity in a month ahead of its August 31 delisting deadline, at which point remaining balances auto-convert to fiat. That displaced capital is landing in EURC, EURCV and other compliant euro tokens.

What is EURXT? EURXT is a MiCA-compliant euro e-money token launched July 1, 2026 by CACEIS, the asset-servicing arm of Crédit Agricole. It is an ERC-20 on Ethereum backed 1:1 by euros on CACEIS Bank's balance sheet, with roughly €20M issued at launch. Its first use case was settling a subscription into an Amundi Luxembourg UCITS money market fund — reportedly the first European fund subscription settled with a euro stablecoin. It targets institutional settlement rather than retail payments.

Why is EURCV growing so fast? EURCV grew 31.3% in July to €152.8M and 180.6% over the past year. The drivers are its four-chain deployment (Ethereum, Stellar, XRP Ledger, Solana), Wintermute acting as a dedicated liquidity provider, the removal of whitelisting restrictions that previously limited it to institutional clients, and Société Générale's balance sheet behind the reserves. It is the only euro stablecoin that has meaningfully closed ground on EURC.

When is the digital euro launching? Not before 2029. The European Parliament voted on July 9, 2026 to enter trilogue negotiations, with legislation targeted for end-2026 and approval expected in early 2027. The ECB selected 36 payment service providers on July 14 for a 12-month pilot that begins in H2 2027. A separate ECB Governing Council vote is required before any issuance.

Is Binance back in the EU? No. Binance suspended EU services on July 1 after withdrawing its Greek CASP application on June 24, and has said it will apply for authorisation in France. No licence had been granted as of early August 2026. Roughly 2 million French users lost trading access; funds remain safe and withdrawable.

How many firms are MiCA-authorised now? Approximately 309 CASPs were verified on the ESMA register as of July 27, 2026, up from around 210 at the July 1 deadline — with some trackers counting 322 across 27 EEA states. The register is updated weekly as national regulators clear their application backlogs.

When will Qivalis launch? Qivalis, the 37-bank consortium including ABN AMRO, Rabobank, Nordea, Intesa Sanpaolo, BNP Paribas and CaixaBank, is still targeting H2 2026 and remains in licensing with De Nederlandsche Bank. Reserves will be at least 40% bank deposits with the remainder in short-dated eurozone government bonds, and 24-hour redemption. No launch date has been confirmed.

Data sourced from DefiLlama Stablecoins, CoinGecko, CoinMarketCap, and ESMA. For live EUR stablecoin data and DeFi yields, visit eurooo.xyz.

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