TL;DR

EURC is a euro-pegged stablecoin by Circle, issued under EU e-money rules and backed 100% by euros, always redeemable at a 1:1 rate.
Circle holds EURC reserves in segregated accounts at regulated European banks and publishes monthly attestations (audited by a Big Four firm) to prove the 1:1 backing.
With a market cap of around $230M, EURC is by far the largest euro stablecoin. It remains tiny next to USD stablecoins like USDC or USDT (tens of billions).

Why EURC Stands Out Recently?

EURC has grabbed attention as Europe’s first major MiCA-compliant euro stablecoin. CoinMarketCap notes that Circle launched EURC as a “regulated e-money token” fully backed by euros and redeemable 1:1 (CoinMarketCap, 2024). In other words, EURC aims to be to the euro what USDC is to the dollar.

At a time when U.S. dollar stability is under scrutiny, many crypto users seek diversification into the euro; EURC provides a ready on-chain vehicle for that demand. Its rapid growth (a 43% supply jump in early 2025 to a record level) signals rising interest.

In summary, EURC stands out due to its full-reserve model under a strong regulatory framework, combined with aggressive multi-chain deployment. It’s positioning itself as Europe’s “digital euro” for crypto markets, a role bolstered by Circle’s reputation (Circle also issues USDC) and by timing amid global currency shifts.

Overview of EURC

Name: EURC (EURC)
Official link: Circle website
Official X (Twitter): Circle on X
Official Discord: Circle Discord Community
Total Supply: 206 Million (Not fixed)
Block Explorer: EURC on Etherscan
Contract Address: 0x1aBaEA1f7C830bD89Acc67eC4af516284b1bC33c
Supported CEX: CoinEx
Supported DEX: Uniswap, PancakeSwap, BaseSwap, Raydium, Meteora, Orca, Matcha, OpenOcean, Aerodrome, etc.

What is EURC?

EURC is a stablecoin pegged to the euro. It was originally launched as “Euro Coin (EUROC)” in mid-2022 by Circle Internet Financial, the firm behind the popular USDC stablecoin. According to CoinGecko, “EURC is a stablecoin issued by Circle under the same reserve model as USD Coin (USDC). It is designed to be stable and 100% backed by euros held in euro-denominated banking accounts”.

In practical terms, every EURC token in circulation represents one euro locked up by Circle. Holders can redeem EURC for actual euros at any time on a 1:1 basis. This makes EURC effectively a digital proxy for the euro, usable wherever crypto is accepted.

Importantly, EURC is structured as an Electronic Money Token (EMT) under EU law. Circle France (Circle SAS) has obtained an e-money license in France to issue EURC, meaning it must adhere to strict capital and reserve rules.

EURC is not covered by EU bank deposit insurance; however, crypto stablecoins are explicitly excluded from those schemes, so holders rely on Circle’s disclosures rather than a government guarantee. As a regulated euro stablecoin, EURC is meant to provide a stable, low-volatility digital asset for anyone needing euro-denominated value in the crypto space.

How Does EURC Work?

EURC follows a fully collateralized model. Whenever new EURC is minted, Circle must hold an equivalent amount of euros in reserve. Circle’s white paper explains that “for every EURC issued by Circle SAS… Circle SAS will hold either one euro… or an equivalent amount of euro-denominated assets on behalf of holders”.

In short, €1 is deposited for each EURC created. Those euros are kept in segregated accounts at regulated banks (mostly very high-rated global banks, according to third-party analysis). The reserves are thus effectively 100% cash or cash equivalents in euros.

Issuance and Compliance

This backing ensures the peg. As the white paper says, “EURC is backed by an equivalent amount of euro-denominated assets… and redeemable 1:1 for euros”. In practice, a user who wants to obtain EURC would open a Circle Mint account (as an approved business or institution), deposit euros via wire, and receive new EURC tokens. Conversely, a user can send EURC back to Circle to have the underlying euros returned or to liquidate on an exchange. Circle charges no fee on minting or redemption (other than normal bank fees).

Circle publishes monthly attestations from a Big Four accounting firm to prove the backing. The company states: “EURC is 100% backed by euro so that it’s always redeemable 1:1 for euro. EURC reserves are held in the management and custody of leading financial institutions and designed to provide holders with ready liquidity” (Circle Internet Financial Europe, SAS, 2024).

In these reports, Circle discloses the amount of EURC outstanding and the value of the reserves (for example, in May 2025, there were about €203M EURC in circulation with €212M in reserves, per Circle’s transparency page). These attestations give users confidence that the peg is solid.

Multi-chain Support and Technical Infrastructure

EURC is deployed across five major blockchains, each using compatible token standards and Circle’s standardized smart contract logic:

Ethereum (ERC-20): The original launch platform, offering deep liquidity, broad wallet support, and integration with key DeFi protocols.
Avalanche C-Chain (ERC-20): An Ethereum-compatible L1 with low fees and high throughput. EURC is verified on Avalanche’s Snowtrace explorer.
Base (ERC-20): Coinbase’s Layer 2 network supports native EURC, enabling seamless integration with Coinbase’s broader ecosystem.
Solana (SPL Token): A high-speed chain using its own SPL standard. EURC integrates with Solana-native DeFi apps like Raydium and Orca.
Stellar (Anchored Asset): Designed for low-cost payments and remittances, EURC functions as an anchored euro asset on the Stellar network.

Circle’s infrastructure, including Circle Mint and APIs, ensures EURC is accessible across all chains. Future updates like cross-chain bridges (e.g., CCTP, already used with USDC) will allow seamless EURC transfers between chains.

Importantly, the smart contract code is standardized, reducing friction for developers and exchanges that already support USDC. Circle handles all off-chain euro custody and compliance.

Use Cases and Real-World Adoption

EURC is designed for practical euro-denominated finance on blockchain. Key use cases include:

Cross-Border Payments:

Businesses and individuals use EURC to send euros globally in seconds. For example, a European company can pay a supplier in Asia by sending EURC (settling on-chain) instead of a slow bank transfer, saving time and fees.

Circle highlights that EURC “empowers businesses to deliver direct money transfers worldwide with remittances that can settle in seconds and cost a fraction of a cent” (vs traditional banking). Crypto investors concerned about dollar inflation can also park value in EURC to hedge via the euro.

Euro-Denominated Crypto Services:

Fintech platforms and crypto wallets use EURC to onboard euro customers. For instance, a digital bank might credit users with EURC to pay merchant bills in euros, without needing a traditional account.

Merchant & Payroll Payments:

Retailers and employers increasingly accept or pay EURC. A merchant can price goods in EURC, and settlement is quick. Companies can pay European employees via EURC payroll, settling amounts on-chain.

Comparison with Other Euro-Pegged Stablecoins and USD-Pegged Alternatives

EURC vs. Other Euro-Pegged Stablecoins

EURC is not the only euro-pegged token, but it is currently the largest. CoinGecko data (mid-2025) shows EURC’s market cap around $230.8M, significantly above its nearest euro competitors: Stasis’ EURS ($138.9M) and Tether’s EURT ($55.9M) (CoinGecko, 2024). Other euro-stable projects (like EUR Coinvertible or Monerium EUR) are even smaller. In other words, EURC dominates the euro-stablecoin niche.

EURC vs. USDT and USDC

By contrast, USD stablecoins are vastly bigger. For example, USDT and USDC each have market caps in the tens of billions (USDT ~70% of all stablecoin value; USDC ~20%). These USD-pegged coins power a huge share of crypto trading and DeFi. EURC’s relative size means liquidity is much thinner, and it is used more narrowly.

Community and Ecosystem Growth

The EURC ecosystem is growing steadily. Major crypto exchanges and wallets list EURC alongside USDC, making it easy to trade or store. It has also entered DeFi liquidity pools on Ethereum and Avalanche (e.g., Curve’s EUR pools) and is accepted as collateral on lending platforms (like Aave or Euler on Ethereum). Because its architecture mirrors USDC, developers have already built support into decentralized apps, wallets, and payment services.

Circle has also actively engaged partners: its Circle Mint and Payments Network APIs allow banks and fintechs to integrate EURC on-ramps, and it has an alliance program for service providers.

On-chain metrics indicate rising usage – for example, EURC addresses and transaction counts have climbed since launch, with particular spikes on Avalanche, Base, and Solana networks (reflecting local DeFi activity). Community events (hackathons, meetups) in Europe and Asia increasingly include EURC topics, focusing on euro DeFi and blockchain research.

News, Partnerships, and Market Predictions

Looking ahead, EURC’s ecosystem may expand further. In 2025, major crypto exchanges like Coinbase and Binance have added deeper EURC support, and Circle has announced collaborations with European payment providers to integrate EURC rails. While Circle often highlights USDC partnerships (e.g., with Mastercard and BlackRock), similar institutional interest for EURC could emerge as European regulators embrace stablecoins.

Market observers note that geopolitical and macro trends (USD strength concerns, EU economic initiatives) could drive continued demand for euro digital assets. Some analysts predict that as MiCA rules solidify and a “digital euro” (central bank project) looms, private stablecoins like EURC will still find niches in cross-border trade and DeFi. If crypto adoption rises in the Eurozone, EURC might capture a growing share of that volume.

Is EURC Worth Buying in 2025?

As a stablecoin, EURC isn’t a growth investment – it’s a tool for holding or moving value in euros. Whether it’s “worth holding” depends on your needs:

Stability and Utility:

If you want to preserve assets in euro terms on-chain, EURC does that reliably. It’s worth holding if you need euro liquidity 24/7 (for trading, remittances, DeFi) without using a bank account. It’s also useful for hedging against USD weakness: notably, the U.S. dollar fell ~9% vs. the euro in early 2025, so EURC gained relative value to USD in that period.

Risks:

Consider the cons – if the euro weakens (for instance, during EU economic slowdowns), EURC’s USD value will drop. Regulatory changes could also affect usage. And because it’s smaller, large trades could move its price.

Conclusion

As a bottom line, EURC has emerged as the largest euro-backed stablecoin, offering transparency, regulatory compliance under EU MiCA, and seamless multi-chain support. While it remains far smaller than USD-pegged stablecoins, EURC is gaining traction among users seeking euro-denominated digital finance. Whether used for payments, remittances, or DeFi, EURC stands out as a stable and fully backed on-chain euro alternative.

FAQs

What is EURC stablecoin?

EURC is a fully euro-backed stablecoin issued by Circle under EU e-money regulations. It is always redeemable 1:1 for euros and designed for use across blockchain networks.

Is EURC regulated in the EU?

Yes, EURC is issued by Circle SAS under an e-money license in France and complies with the Markets in Crypto-Assets (MiCA) regulation as an Electronic Money Token (EMT).

How is EURC different from USDC or USDT?

While USDC and USDT are pegged to the U.S. dollar, EURC is pegged to the euro. All three are stablecoins, but EURC serves the eurozone and is structured to meet European regulatory standards.

Is EURC safe to hold?

EURC is 100% backed by euros held in segregated accounts at regulated banks. Circle publishes monthly attestations from a Big Four auditor, ensuring reserve transparency.

Where can I buy or use EURC?

EURC is available on major exchanges like CoinEx, Coinbase, Binance, and others, and it’s integrated across Ethereum, Solana, Avalanche, Stellar, and Base for DeFi, payments, and remittances.

References

CoinMarketCap. (2024). EURC price today, market cap and chart. Retrieved from coinmarketcap.com/currencies/euro-coin
Circle Internet Financial Europe, SAS. (2024). MiCA EURC White Paper. Retrieved from circle.com/legal/mica-eurc-whitepaper
CoinGecko. (2024). Top EUR Stablecoins by Market Cap. Retrieved from coingecko.com/en/categories/eur-stablecoin

What is EURC? The Largest Euro Stablecoin Backed by Real Euros