Kaiko Research: MiCA-compliant stablecoins dominate the euro stablecoin market, accounting for 67% of the market share

According to TechFlow, on October 15, The Block reported that according to the latest report from Kaiko Research, since the implementation of some provisions of the EU (Markets in Crypto Assets Regulation) (MiCA) in June 2024, MiCA-compliant stablecoins have dominated the euro stablecoin market. Compliant stablecoins such as Circle's EURC and Societe Generale's EURCV currently account for 67% of the euro stablecoin market, a record high.

Kaiko analysts pointed out that this change in market share was mainly driven by Coinbase. Since August 2024, Coinbase has surpassed Binance to become the leading platform for euro stablecoin trading. Coinbase actively embraces MiCA-compliant assets, while Binance mainly promotes non-compliant euro stablecoins for non-European users through a zero-fee model.