MiCA Regulations Drive Big Changes in Euro Stablecoin Market: Kaiko Report
The European Markets in Crypto-Assets Regulation (MiCA) has significantly reshaped the euro stablecoin market, according to a Kaiko report.
Within three months of MiCA’s enforcement, euro stablecoins like Circle’s EURC and Société Générale’s EURCV now hold 67% of the market share, driven by exchanges like Coinbase delisting non-compliant tokens. However, platforms like Binance continue to offer non-compliant stablecoins to users outside Europe.
While euro-backed stablecoin trading volumes remain steady at $30 million weekly, Kaiko expects more changes, particularly as Coinbase plans to delist tether (USDT) in Europe by year-end.
Clever Robot News Desk 16th October 2024
