Gate News reports that on March 27, according to data from the crypto research firm Kaiko, the monthly spot trading volume of euro-pegged stablecoins dropped from nearly 200 million US dollars at the beginning of 2024 to about 100 million US dollars this year, a decline of nearly 50%. Kaiko pointed out that although the EU’s MiCA regulations aim to support compliant European issuers, euro stablecoins have not generated substantial trading activity. Traders prefer dollar-denominated tokens, and the euro version has increased currency exchange friction. One stablecoin issuer stopped minting euro stablecoins in 2024. Currently, the monthly trading volume of euro stablecoins is only 15 to 20 billion US dollars, while dollar stablecoins exceed 1 trillion US dollars in monthly trading volume, a difference of about 200 times. S&P Global predicts that the euro stablecoin market size will grow from 650 million euros in 2024 to 1.1 billion euros by 2030; 12 European banks, including UniCredit and BNP Paribas, are jointly preparing to launch euro stablecoins within this year.
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