Circle’s Euro Stablecoin EURC Surpasses €400 Million in Circulation

TLDR

• EURC has surpassed €400 million in circulation after its supply more than doubled over the past year.
• Circle said EURC is now supported across major blockchains, exchanges, payment networks and institutional platforms.
• Euro stablecoin supply reached about €650 million by June 2026, with EURC holding a large share of the market.
• Circle operates EURC as a MiCA compliant e-money token through its licensed entity in France.
• Circle has asked EU policymakers to ease rules it says could limit settlement using smaller euro stablecoins.

Circle’s euro backed stablecoin EURC has crossed €400 million in circulation. The company said supply has more than doubled over the past year.

Circle shared the update on August 17. It said the token is now used for trading, payments, foreign exchange, treasury work and institutional settlement.

Circle’s own EURC page showed €402.4 million in circulation as of August 13, 2026. The company pointed to wider distribution across blockchains and financial platforms as a main driver.

Euro stablecoins had long operated with less liquidity than dollar tokens. Circle said users often relied on dollar stablecoins as a middle step when moving between euros and digital assets.

EURC launched on Ethereum in June 2022. Circle later added native issuance on Avalanche, Stellar, Solana and Base starting in 2023.

By the end of 2024, EURC was live on five blockchains with around €80 million in circulation. Supply then more than doubled in the first half of 2025 and kept climbing.

Exchanges and institutions add support

Several exchanges have listed EURC over time. Circle named Bitpanda, Bitstamp, Bybit, Coinbase and Kraken among platforms offering EURC trading pairs.

Institutional custody and settlement firms also joined in. Cobo, Copper and Fireblocks now support EURC for institutional users.

Onramp and offramp providers Mercuryo, MoonPay, Ramp and Transak added EURC too. This lets users move between euros and digital assets more directly.

Payment networks have expanded their use of the token as well. Mastercard and Circle widened stablecoin settlement in August 2025 to cover USDC and EURC across Eastern Europe, the Middle East and Africa.

Regulation under MiCA

Circle issues EURC as an electronic money token under the EU’s Markets in Crypto Assets Regulation. Its licensed entity, Circle Mint France, handles issuance.

France granted Circle an Electronic Money Institution licence in July 2024. That let Circle Mint France issue EURC and USDC for European customers.

Circle said EURC reserves are kept separate from company funds. Monthly third party attestations check on those reserves.

Deutsche Börse agreed in September 2025 to add Circle stablecoins to parts of its market infrastructure. That deal covers EURC and USDC trading through 3DX and custody through Clearstream.

Total euro stablecoin supply rose from about €400 million in June 2025 to roughly €650 million by June 2026, Circle said. EURC makes up a large piece of that figure.

A European bank group called Qivalis is building a competing euro stablecoin. The consortium grew to 37 institutions in May and is seeking its own EU licence.

Circle has asked EU regulators to change parts of a proposed settlement rulebook. It argues that market size thresholds could make it harder for smaller euro tokens to qualify for institutional settlement use.

The company said its addressable market is still far larger than current circulation. Euro area M2 money supply topped €16 trillion in late 2025, compared with about €650 million held in euro stablecoins.

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