The post Circle is dominating Europe’s stablecoin market via EURC appeared on BitcoinEthereumNews.com.

Europe’s stablecoin market seems to be now controlled by Circle, and not everyone is comfortable with that. The issuer of USDC is quietly becoming the dominant player in euro-denominated stablecoins through EURC. This shift triggered criticism from parts of the crypto community. Some of them see it less as a product win and more as a policy-driven outcome. DeFi analyst Ignas called it out bluntly. He looks at Circle’s dominance as “a European fail.” In his view, Europe has repeatedly missed key technology waves. This includes Big Tech, cloud, and AI. However, it is now falling behind in the stablecoin sector. The global crypto market witnessed a minor recovery rally. Its cumulative cap now stands around $2.47 trillion. Bitcoin price has jumped by more than 8% over the last 7 days. The stablecoin market is picking up and hovers around a $320 billion cap. Circle is the second biggest stablecoin in the race, with a cap of more than $78 billion. Circle captures Europe?  Ignas is a post highlighted that EURC is not even a core focus for Circle. ECB plans a digital EUR by 2029, but it will be proposing a 3,000 EUR holding limit per wallet. He sees this plan designed to fail. By then, Circle’s network effects get locked in. It seems that the euro stablecoin remains a much smaller piece of the business. The USDC issuer has managed to capture a good share of the European market. There are several native stablecoin projects that exist in the region. The tally includes Qivalis, EURe, EURI, EURA, and more. They are still small in comparison to the major players. This is mainly due to a lack of funding and incentives for adoption. He compared EURC, which holds a market cap of $460 million, with USDC. He called it…

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Filed under: News - @ April 11, 2026 8:09 pm