Following the implementation of the Markets in Crypto-Assets (MiCA) regulations in Europe, the monthly trading volume of Euro stablecoins reached a record of 800 million Euros in November 2024. According to a report by the research firm Kaiko and the exchange Bitvavo, the stablecoin EURI, issued by Banking Circle and listed on Binance, played the largest role in this growth. Euro stablecoins EURC and EURCV also played a significant role in this growth, capturing 91% of the market share.
Moreover, the weekly trading volume of the digital currency market in Europe has reached 12 billion Euros, with the Euro’s share in Bitcoin (BTC) transactions increasing from 3.6% to 10%.
