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Stablecoins

The State of Euro Stablecoins 2025

Insights from €8.1B+ in cumulative onchain volume across eleven euro-denominated stablecoins, post-MiCAR.

In this report, we share insights from more than €8.1 billion in cumulative onchain volume, tracking eleven euro-denominated stablecoins across Ethereum, Solana, Polygon, and Avalanche, using data from Range's Stablecoin Explorer and Faraday's intelligence infrastructure.

Inside the report

  • Euro stablecoins represent less than 1% of total stablecoin issuance, despite the euro serving 350M+ people and a $19 trillion economy.
  • MiCAR now provides foundational support for compliant, scalable euro stablecoin adoption across the EU.
  • Issuance and distribution trends following MiCAR implementation.
  • Regulatory positioning and compliance outcomes across projects.
  • Market strategies compared: CEX-first versus DeFi-first approaches.
  • Market share, major holders, and ecosystem adoption patterns.
  • Chain-specific deployment analysis across networks.

Supporting partners

Utila, Quantoz, SG Forge, Schuman Financial, AllUnity, Morpho, Banxa, 1Konto, Iron, Clear Junction.

Read the report

See the data behind the report

Range's Stablecoin Explorer and intelligence infrastructure power every report. Get a walkthrough.