Ethereum, Solana, and Base Capture 92% of Euro Stablecoin Market
The euro-denominated stablecoin market has grown to $835 million, with Ethereum, Solana, and Base now hosting the vast majority of the supply.
The market for euro-denominated stablecoins has seen significant growth, expanding from roughly €50 million at the start of 2024 to approximately $835 million by mid-August 2026.
Three blockchain networks currently dominate this sector, collectively accounting for 91.5% of the total market capitalization.
Ethereum leads the market with a 69.5% share, representing between $579 million and $589 million in supply. Solana follows in second place with 14.8%, while Base, the Layer 2 network from Coinbase, holds approximately 6.9%.
Regulatory developments have played a role in this expansion, with MiCA-compliant stablecoin supply reaching about $674 million by mid-2026. This indicates that most euro stablecoins in circulation now operate under a recognized regulatory framework.
Two issuers, Circle and SG Forge, control over 80% of the total supply. Circle’s EURC accounts for up to 63% of the market, while SG Forge’s EURCV, which is backed by Société Générale, also maintains a significant portion.
While other networks such as Gnosis, XRP Ledger, BNB Chain, and Avalanche host euro stablecoins, they remain minor players with a combined market share of less than 9% across roughly 17 different chains.
