EUR Stablecoin Market Overview — May 2026
As of May 3, 2026, the total circulating supply of EUR-denominated stablecoins stands at €655.76 million, down 3.59% over the past 30 days. There are currently 19 EUR stablecoins tracked across 26 blockchains.
May marks the third consecutive monthly decline — from €702M in March, to €670M in April, to €655M now. But beneath the headline contraction, the internal dynamics are shifting sharply: EURC has rebounded strongly in market share, EURCV has broken above 14%, and AEUR — which held fourth place as recently as March — has effectively collapsed. The market is consolidating, fast.
Top 10 EUR Stablecoins by Market Cap
Here is the full ranking of the ten largest Euro stablecoins by circulating supply as of May 2026.
1. EURC (Circle) — €395.4M (65.5% market share) EURC has staged a strong recovery. After dipping to €378.4M and 61.4% share in April, supply has rebounded to €395.4M with a market share of 65.5% — the highest it has been since February. Wirex and Stellar launched dual USDC/EURC Visa settlement for over 7 million users on May 1, and Spain was confirmed as the leading European market for retail EURC transactions in Q1 2026. Available on Ethereum, Base, Solana, Avalanche, and six additional chains.
2. EURCV / EUR CoinVertible (SG Forge) — €85.4M (14.2%) EURCV continues its unbroken run of monthly growth. From €62.2M in March to €76.4M in April to €85.4M now, supply has grown by more than 37% in two months. Its market share has climbed from 9.6% to 14.2% in the same period. SG Forge added Wintermute as a dedicated liquidity provider earlier this year and has expanded EURCV to the XRP Ledger and Stellar — broadening distribution well beyond its original Ethereum and Solana footprint.
3. EURI / Eurite — €55.0M (9.1%) EURI holds third place for the second consecutive month, edging up from €54.1M to €55.0M. Available on Ethereum and BSC, EURI continues its quiet but consistent growth.
4. EURE / Monerium EUR emoney — €27.5M (4.6%) Monerium's EURE moves up one position to fourth following AEUR's collapse, holding steady at €27.5M. Available on Gnosis, Ethereum, Arbitrum, Polygon, and five additional chains, EURE remains the most widely deployed EUR stablecoin by chain count.
5. EURR / StablR Euro — €11.8M (2.0%) EURR holds fifth at €11.8M on Ethereum and Solana. Supply is essentially flat month-over-month.
6. EURS / Stasis Euro — €7.7M (1.3%) EURS holds steady at €7.7M across Ethereum, Polygon, Stellar, Algorand, and three additional chains.
7. EUROP / Schuman EUROP — €7.7M (1.3%) Schuman's EUROP ticks up slightly to €7.7M on Ethereum, Plasma, Avalanche, and Polygon — now level with EURS for sixth place.
8. EURm / Mento Euro — €3.5M (0.6%) EURm holds steady at €3.5M on Celo, Solana, and Polygon.
9. EURA (formerly agEUR) — €2.7M (0.4%) EURA continues its slow decline, dropping from €3.0M to €2.7M. Available on Ethereum, Arbitrum, Polygon, Fantom, and six additional chains.
10. AEUR / Anchored Coins AEUR — €2.3M (0.4%) AEUR is the defining story of May 2026. The stablecoin held fourth place with €41.9M in supply as recently as April — and has now collapsed to €2.3M, a 94.5% decline in a single month. AEUR was issued by Anchored Coins, a Swiss firm whose primary reserve custodian, FlowBank SA, went into bankruptcy in 2024. The stablecoin never fully recovered from that episode and has now seen supply drain almost entirely. AEUR's fall from €51.4M in March to €41.9M in April to €2.3M in May represents one of the sharpest single-month drops ever seen 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 eight additional chains.
12. PAR / Parallel — €1.2M (0.2%) Available on Ethereum, Polygon, and Fantom.
13. EURAU / AllUnity EUR — €1.1M (0.2%) AllUnity expanded EURAU to Solana on April 30 and launched EURAU/USDT liquidity pools across major DEXs in April. Despite active development — and backing from DWS, Flow Traders, and Galaxy — supply remains at €1.1M. A Deutsche Börse Group partnership for institutional custody through Clearstream signals the long-term ambition, but retail traction has not yet followed.
14. EURT / Euro Tether — €274K (0.0%) Tether's euro stablecoin continues its slow wind-down, available on Ethereum and Polygon.
15. EUROe / EUROe Stablecoin — €113K (0.0%) Available on Solana, Polygon, Ethereum, Arbitrum, and four additional chains.
EUR Stablecoin Market Share Distribution
Market share in May 2026:
- EURC — 66%
- EURCV — 14%
- EURI — 9%
- EURE — 5%
- EURR — 2%
- EURS — 1%
- EUROP — 1%
- All others — 2%
The top three coins — EURC, EURCV, and EURI — now account for 88.8% of total EUR stablecoin supply. AEUR's collapse has accelerated what was already a clear consolidation trend. The mid-tier of the market is shrinking, and capital is flowing to the issuers with the strongest regulatory standing and distribution reach.
Blockchain Distribution of EUR Stablecoins
EUR stablecoins remain deployed across 26 blockchains. The three largest chains by EUR stablecoin supply are:
- Ethereum — 72% of total EUR stablecoin supply
- Solana — 11%
- Base — 9%
Ethereum's share has held in the 70–73% range for three consecutive months, reflecting the deep DeFi ecosystem and institutional preference for mainnet settlement. Solana and Base remain relevant for retail and lower-cost DeFi activity.
What Happened This Month
AEUR's collapse. The most significant event in the EUR stablecoin market in May was AEUR's near-complete unwinding. Anchored Coins' stablecoin had been declining since its custodian FlowBank SA entered bankruptcy in 2024, but the final drawdown in April–May 2026 was sharp. Users holding AEUR have been redeeming at an accelerating pace, and the supply has now fallen to a level that effectively removes it from the competitive landscape.
EURC bounces back. EURC's share recovery from 61.4% in April to 65.5% in May is partly explained by AEUR's collapse — as AEUR supply was redeemed, some capital flowed back into EURC. But EURC also added new distribution in May: the Wirex/Stellar integration brought EURC to 7 million+ users via Visa settlement alongside USDC.
EURCV keeps growing. Three consecutive months of supply growth for SG Forge's stablecoin is now a confirmed trend rather than a one-off. EURCV at 14.2% market share is firmly established as the second-largest EUR stablecoin and is widening its lead over the rest of the field.
Qivalis confirmed Fireblocks. The Qivalis consortium — 12 EU banks building a joint euro stablecoin — confirmed Fireblocks as its infrastructure partner on April 21. Fireblocks will handle custody, minting, and settlement rails. The H2 2026 launch timeline remains in place.
MiCA CASP deadline: 2 months away. The July 1, 2026 deadline for all Crypto Asset Service Providers to hold full MiCA authorisation is now eight weeks out. Non-compliant stablecoins — those that have not obtained EMT licensing — face mandatory delisting from EU platforms. This is likely to cause further consolidation in the EUR stablecoin market in the coming months, with compliant issuers (EURC, EURCV, EURI) the primary beneficiaries.
Key Takeaways for May 2026
- The market declined for the third consecutive month. €655.76M is down from a March peak of €702M. The market is in a consolidation phase, not a trend reversal — but three months of decline is worth watching.
- AEUR effectively exited the market. A 94.5% drop in one month — from €41.9M to €2.3M — makes AEUR one of the biggest casualties in the EUR stablecoin space since EURT's decline. The FlowBank custodian crisis that began in 2024 has now fully played out.
- EURC and EURCV are the consolidation winners. With AEUR gone, capital has concentrated further at the top. EURC at 65.5% and EURCV at 14.2% together hold nearly 80% of the market.
- The MiCA CASP deadline is the story for June. With July 1 approaching fast, the next 60 days will determine which platforms and which stablecoins survive the regulatory transition in the EU.
- Qivalis is getting real. The Fireblocks partnership is not just an announcement — it is the infrastructure layer that will make Qivalis operationally possible. The H2 2026 launch is becoming more concrete.
Frequently Asked Questions
What is the total EUR stablecoin market cap in May 2026? The total EUR stablecoin market cap is €655.76 million as of May 3, 2026, down 3.59% from April.
What happened to AEUR? AEUR (Anchored Coins AEUR) collapsed from €41.9M in April to €2.3M in May — a 94.5% decline in one month. The stablecoin had been under pressure since its reserve custodian, FlowBank SA, entered bankruptcy in 2024. The remaining supply appears to have been steadily redeemed through early 2026.
What is the largest EUR stablecoin? EURC, issued by Circle, remains the largest with €395.4M in circulation and a 65.5% market share as of May 2026.
Why is EURCV growing so fast? SG Forge's EURCV has grown 37% in two months (March–May 2026), driven by multi-chain expansion (XRP Ledger, Stellar), new liquidity partners (Wintermute), and growing institutional demand for a bank-issued, MiCA-compliant EUR stablecoin.
What is the MiCA CASP deadline? July 1, 2026. After this date, all Crypto Asset Service Providers operating in the EU must hold full MiCA authorisation. Platforms that haven't obtained licences must stop operating, and non-compliant stablecoins face mandatory delisting.
Data sourced from DefiLlama Stablecoins. For live EUR stablecoin data and DeFi yields, visit eurooo.xyz.