EUR Stablecoin Market Overview — June 2026
As of June 2, 2026, the total circulating supply of EUR-denominated stablecoins stands at approximately €625 million, down roughly 4.7% over the past 30 days. There are currently 19 EUR stablecoins tracked across 26 blockchains.
June marks the fourth consecutive monthly decline — from €702M in March, to €670M in April, to €655M in May, to €625M now. The headline contraction continues, but the composition underneath is shifting in a meaningful way: EURCV has crossed €100 million for the first time, Qivalis has grown from 12 banks to 37 in a matter of weeks, and the July 1 MiCA CASP deadline — now less than 30 days away — is set to define who is still operating in the EU market by Q3 2026.
Top 10 EUR Stablecoins by Market Cap
Here is the full ranking of the ten largest Euro stablecoins by circulating supply as of June 2026.
1. EURC (Circle) — €384M (61.4% market share) EURC has edged down slightly from €395.4M in May to €384M now — a modest 2.9% decline. This is likely a consolidation effect rather than a structural retreat: as the July 1 deadline approaches, exchange platforms are completing their compliance reviews and some retail users are taking positions on the sideline ahead of the regulatory transition. EURC's underlying distribution story remains strong: the Wirex/Stellar Visa settlement integration for 7 million+ users (launched May 1) continues to drive retail reach, and EURC is now one of five stablecoins supported across 40+ million Ingenico payment terminals via WalletConnect Pay. Available on Ethereum, Base, Solana, Avalanche, and additional chains.
2. EURCV / EUR CoinVertible (SG Forge) — €105M (16.8%) EURCV has crossed €100 million for the first time — a psychological milestone that cements its position as the second-largest EUR stablecoin with a growing gap over the rest of the field. Token Terminal confirmed a 200%+ year-over-year growth in EURCV market cap as of mid-May 2026. From €62.2M in March to €76.4M in April to €85.4M in May to €105M now, SG Forge has delivered four consecutive months of supply growth. EURCV's expansion to XRP Ledger and Stellar — in addition to Ethereum and Solana — has broadened its reach across institutional settlement networks.
3. EURI / Eurite — €55M (8.8%) EURI holds third place for the third consecutive month, essentially flat at €55M. Available on Ethereum and BSC, EURI remains one of the most stable supply profiles in the market.
4. EURE / Monerium EUR emoney — €28M (4.5%) Monerium's EURE holds fourth, ticking up slightly to €28M. Available on Gnosis, Ethereum, Arbitrum, Polygon, and additional chains, EURE remains the most widely deployed EUR stablecoin by chain count.
5. EURR / StablR Euro — €12M (1.9%) EURR holds fifth at €12M on Ethereum and Solana. Supply remains flat month-over-month.
6. EURS / Stasis Euro — €8M (1.3%) EURS holds steady at approximately €8M across Ethereum, Polygon, Stellar, Algorand, and additional chains.
7. EUROP / Schuman EUROP — €8M (1.3%) Schuman's EUROP remains at approximately €8M on Ethereum, Plasma, Avalanche, and Polygon — level with EURS.
8. EURm / Mento Euro — €3.5M (0.6%) EURm holds steady at €3.5M on Celo, Solana, and Polygon.
9. EURA (formerly agEUR) — €2.5M (0.4%) EURA continues its slow decline, dropping from €2.7M to €2.5M. Available on Ethereum, Arbitrum, Polygon, Fantom, and additional chains.
10. EURAU / AllUnity EUR — €2.5M (0.4%) EURAU rises into the top 10 as AEUR completes its exit from the market. AllUnity's Deutsche Börse Group partnership — which integrates EURAU into Deutsche Börse's infrastructure, with institutional-grade custody through Clearstream — is the clearest institutional backing signal in the mid-tier EUR stablecoin space. Deutsche Börse is AllUnity's third stablecoin partner, following earlier deals with Circle and SG Forge.
Notable: AEUR — Effectively Zero
AEUR (Anchored Coins), which held €41.9M in April and collapsed to €2.3M in May, has now effectively reached zero. The final redemptions are complete. AEUR is no longer a meaningful participant in the EUR stablecoin market.
Other EUR Stablecoins (Ranked 11–15)
11. VEUR / VNX EURO — €1.6M (0.3%) Available on Solana, Avalanche, Base, and additional chains.
12. PAR / Parallel — €1.2M (0.2%) Available on Ethereum, Polygon, and Fantom.
13. EURT / Euro Tether — ~€300K (0.0%) Tether's euro stablecoin continues its wind-down.
14. EUROe / EUROe Stablecoin — ~€110K (0.0%) Available on Solana, Polygon, Ethereum, Arbitrum, and additional chains.
EUR Stablecoin Market Share Distribution
Market share in June 2026:
- EURC — 61%
- EURCV — 17%
- EURI — 9%
- EURE — 5%
- EURR — 2%
- EURS — 1%
- EUROP — 1%
- All others — 4%
The top three coins — EURC, EURCV, and EURI — now account for 87% of total EUR stablecoin supply, up from 88.8% in May (the slight dip is because EURCV's gains are partially offset by EURC's modest decline). The mid-tier is nearly gone. Capital is concentrated almost entirely in the compliant, institutionally-backed issuers.
Blockchain Distribution of EUR Stablecoins
EUR stablecoins remain deployed across 26 blockchains. The three largest chains by EUR stablecoin supply:
- Ethereum — ~72% of total EUR stablecoin supply
- Solana — ~11%
- Base — ~9%
Ethereum's dominance holds in the 70–73% range for the fourth consecutive month. Solana and Base remain the primary alternatives for retail and DeFi activity.
What Happened This Month
Qivalis expanded from 12 to 37 banks. The single biggest development in the EUR stablecoin space in May–June 2026 was Qivalis adding 25 new member institutions from 15 countries — bringing the consortium to 37 banks, including ABN AMRO, Rabobank, Nordea, Intesa Sanpaolo, and five Spanish banks (ABANCA, Banco Sabadell, Bankinter, Cecabank, and Kutxabank). Qivalis, headquartered in Amsterdam, has applied to De Nederlandsche Bank (DNB) for an electronic money institution licence and remains on track for an H2 2026 launch. This is no longer a small pilot — it is the European banking establishment formally committing to euro stablecoin infrastructure.
EURCV crossed €100 million. SG Forge's EURCV has now delivered four consecutive months of supply growth and crossed the €100M milestone. Token Terminal reported 200%+ year-over-year growth in EURCV market cap as of mid-May 2026. EURCV's multi-chain expansion — now spanning Ethereum, Solana, XRP Ledger, and Stellar — and its integration with Wintermute as a dedicated liquidity provider are the structural reasons behind sustained growth.
MiCA CASP deadline: 29 days away. July 1, 2026 is now less than a month away. After this date, all Crypto Asset Service Providers operating in the EU must hold full MiCA authorisation or cease operations. BitGo CEO Mike Belshe warned publicly of a potential "massive stablecoin crisis" if USDT — which remains unlicensed under MiCA and has already been delisted by Coinbase, Binance, Kraken, and Crypto.com for EEA retail users — faces forced simultaneous exit from the remaining platforms still offering it. USDC and EURC, while MiCA-compliant, do not yet carry the depth to absorb a rapid full migration of USDT liquidity without market disruption. The next 30 days will determine whether the transition is orderly or compressed.
ECB's Schnabel warned about stablecoin risks to monetary sovereignty. On June 1, 2026, ECB Executive Board member Isabel Schnabel delivered a speech titled "From money market funds to stablecoins: lessons for central banks" at the Bank of Korea International Conference in Seoul. Schnabel drew a direct parallel between the risks money market funds posed to banking stability in the 2000s and the risks dollar-denominated stablecoins pose today — bank disintermediation, volatile wholesale funding, and weakened monetary policy transmission. The speech explicitly positioned the digital euro as the ECB's preferred answer to stablecoin risks. For the EUR stablecoin market, the signal is significant: the ECB is watching, and it intends to accelerate the digital euro as a policy response.
Circle completed its stablecoin triad with cirBTC. Circle's May 2026 announcement of cirBTC — a regulated, wrapped Bitcoin product — completed a reserve asset triad that no other major Western regulated issuer has assembled: USDC for dollars, EURC for euros, and cirBTC for bitcoin. This positions Circle as the multi-currency regulated stablecoin infrastructure layer across all three major reserve assets.
AllUnity and Deutsche Börse deepened their EURAU partnership. Deutsche Börse Group confirmed the integration of AllUnity's EURAU stablecoin into its infrastructure, with institutional-grade custody available through Clearstream. This makes Deutsche Börse AllUnity's third major partner after Circle and SG Forge, and gives EURAU a credible pathway to institutional distribution — even if retail traction remains limited for now.
Key Takeaways for June 2026
- The market declined for the fourth consecutive month. At ~€625M, the market has now contracted roughly 11% from the March peak of €702M. The headline trend is clearly downward, but the reason is not exit — it is consolidation. Mid-tier and non-compliant supply is draining; compliant supply is being absorbed into fewer, larger issuers.
- Qivalis is no longer a concept. It is a 37-bank consortium applying for an EMI licence. The expansion from 12 to 37 banks in weeks is one of the fastest institutional buildouts in European fintech history. If Qivalis launches on schedule in H2 2026, it will immediately reshape the EUR stablecoin competitive landscape.
- EURCV's momentum is structural, not a spike. Four consecutive months of supply growth, now above €100M, is a trend. EURCV is not chasing EURC — it is building a distinct institutional base and outpacing every competitor outside the top two.
- July 1 is the next inflection point. The MiCA CASP deadline will force the final platform-level compliance decisions. Non-compliant stablecoins not already delisted will be removed. What happens to that liquidity — whether it flows into EURC, EURCV, or out of EUR stablecoins entirely — will define the July market report.
- The ECB is entering the conversation more forcefully. Schnabel's June 1 speech signals that the ECB is not passively watching stablecoin growth. The digital euro narrative will intensify through H2 2026, and euro stablecoin issuers should expect closer regulatory scrutiny alongside the CASP deadline.
Frequently Asked Questions
What is the total EUR stablecoin market cap in June 2026? Approximately €625 million as of June 2, 2026 — down roughly 4.7% from May's €655.76M and the fourth consecutive monthly decline from the March 2026 peak of €702M.
What is the biggest EUR stablecoin story of June 2026? Qivalis expanding from 12 to 37 banks in a matter of weeks — including ABN AMRO, Rabobank, Nordea, Intesa Sanpaolo, and five Spanish institutions — and formally applying to De Nederlandsche Bank for an EMI licence. Combined with the Fireblocks infrastructure partnership confirmed in April, Qivalis is now operationally real with an H2 2026 launch on track.
What happens on July 1, 2026? The MiCA transitional period ends in full for all EU member states. Every Crypto Asset Service Provider must hold full MiCA authorisation or cease operations. Stablecoins without EMT (Electronic Money Token) licensing must be delisted from EU-regulated platforms. This is the final regulatory moment for the current EUR stablecoin market structure.
Why is EURCV growing so fast? EURCV has delivered 200%+ year-over-year growth driven by multi-chain expansion (XRP Ledger, Stellar, Ethereum, Solana), dedicated liquidity partners (Wintermute), growing institutional demand for a bank-issued MiCA-compliant euro stablecoin, and SG Forge's aggressive DeFi integration strategy on Morpho and other protocols.
What is the ECB saying about stablecoins? ECB board member Isabel Schnabel warned on June 1, 2026 that dollar-backed stablecoins threaten European monetary sovereignty and bank stability, drawing parallels to money market fund risks in earlier decades. The ECB is positioning the digital euro as the policy response. This is a signal that regulatory engagement with euro stablecoins — and pressure on USD stablecoin growth in Europe — will increase through H2 2026.
Data sourced from DefiLlama Stablecoins, CoinGecko, and Token Terminal. For live EUR stablecoin data and DeFi yields, visit eurooo.xyz.