Kaiko Research: MiCA compliant euro stablecoins capture 67% of the market share, reaching a record high

2024-10-15 23:19:41

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ChainCatcher message, according to the Kaiko Research report, since the implementation of the EU's Markets in Crypto-Assets (MiCA) regulation, MiCA-compliant stablecoins (such as Circle's EURC and Société Générale's EURCV) have reached a market share of 67% in the euro stablecoin market, a record high.

The report notes that this change is primarily driven by Coinbase, which surpassed Binance in August to become the leading platform for euro stablecoin trading. Despite the market structure adjustment, the weekly trading volume of euro stablecoins remains around $30 million, down from $100 million in March.

Additionally, the report mentions the impact of the MiCA regulation on dollar stablecoins, with Coinbase planning to delist non-compliant stablecoins like USDT for European users by December 30, 2024, which may benefit MiCA-compliant USDC.

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MiCA Coinbase EURC Euro stablecoin

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