The EU has approved 25 e-Money Token (EMT) issuers, including Circle and Société Générale–FORGE. Circle’s USDC and its euro-pegged EURC are the region’s largest stablecoins by market supply.
Despite this, regulatory barriers have prevented Tether from entering the European market, allowing euro-pegged stablecoins to gain more market share. However, the total supply of euro-backed stablecoins is $822M, compared with $315B for dollar-pegged products.
Despite this, regulatory barriers have prevented Tether from entering the European market, allowing euro-pegged stablecoins to gain more market share. However, the total supply of euro-backed stablecoins is $822M, compared with $315B for dollar-pegged products.