Circle’s EURC hits €400M in a slow push against dollar stablecoins

Circle revealed that its euro stablecoin (EURC) has now crossed the mark of €400 million in circulation within around four years since it was launched. Although this amount is still insignificant compared to the dollar stablecoins, this gap is part of the overall picture. Establishing a serious payment rail that doesn’t rely on the dollar has required years of work even for one of the biggest issuers of stablecoins in the sector.

As far as institutions, payment firms, and developers wanting to hold and transfer euros on the blockchain are concerned, this achievement indicates that a promising alternative is coming into being. Nonetheless, the expansion of EURC points to the fact that the adoption process has been rather lengthy, owing to more advanced regulations and improved infrastructure, but not to the sharp increase in demand.

A four-year climb from one chain to five

The European euro stablecoin EURC debuted on Ethereum back in June 2022, where it remained until 2023, when Circle started to launch it on other blockchains, including Avalanche, Stellar, Solana, and Base. By December 2024, it had been introduced to five different blockchains and had almost €80 million in circulation. According to Circle, the EURC supply doubled in the first half of 2025, rising more than 100% over the past 12 months.

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