A new analysis by DECTA, the Euro Stablecoin Trends Report 2025, reveals that the implementation of the Markets in Crypto-Assets (MiCA) framework on June 30, 2024, has fundamentally transformed Europe's stablecoin sector. This regulatory shift has dramatically boosted the market for euro-denominated digital assets, reversing previous declines and reshaping consumer behavior.
Key Market Turnaround
- Capitalization Surge: Total euro-stablecoin market capitalization more than doubled(102% year-over-year) post-MiCA, recovering strongly from the preceding year's downturn.
- EURS saw explosive growth, with its supply jumping over 640% to reach $283.9 million by October 2025.
- Transaction Volumes Soar: Monthly euro-stablecoin transaction activity grew nearly tenfold, expanding from $383 million pre-MiCA to almost $3.84 billionafter the framework took effect.
- EURC and EURCV were the primary drivers, registering volume increases of 1,139% and 343%, respectively.
Regulatory Compliance Drives Competition
MiCA's clear rules on reserves, licensing, and disclosure are attracting new, compliant issuers while non-compliant and synthetic tokens fade.
- New Authorized Players: Noteworthy MiCA-authorized entrants include EUROe (EURe) by Membrane Finance, EURØP by Schuman Financial, and EURR by StablR.
- These new tokens are increasingly competing with established assets like EURC, EURS, and EURCV.
Consumers Embrace Crypto Payments
The report, based in part on a survey of 1,160 EU crypto users, indicates a growing comfort level with digital payments:
- Repeat Usage: 59.2% of respondents have previously paid with crypto, suggesting that repeat usage is becoming the norm.
- Payment Assets and Purchases: Bitcoin remains the dominant payment asset (55.17% of recent transactions). Services (78.3%) and e-commerce/retail were the most common categories for crypto-based shopping.
- Future Intent: 56.7% of participants expect to use cryptocurrency for online payments again within the next year, pointing toward continued mainstream adoption.
Regional Interest Rises
Public curiosity and search interest in stablecoins have increased across the EU:
- Overall Stablecoin Searches: Finland and Italy showed the sharpest increases in general stablecoin-related searches, rising by 400% and 313.3%, respectively.
- Specific Stablecoin Searches (EURC, cEUR, EURT): Cyprus and Slovakia saw the fastest growth in search activity.
In summary, the MiCA framework has provided the regulatory certainty needed to legitimize and propel the euro-stablecoin market into a period of dramatic expansion, fostering both institutional growth and increased consumer adoption.
December 2025, Cryptoniteuae