EUR (EUR)

European stablecoins are showing rapid growth amid declining interest in the USD. EUR stablecoins reached a $617m market cap in early 2026. The largest share belongs to EURC by @circle, with a capitalization of $398m. Alongside EUR stablecoins, CHF-denominated ones have also been developing. Swiss stablecoins reached a $17.7m market cap, overtaking GBP. For example, ZCHF by @frankencoinzchf increased its market cap by +$2.5m in 2025. Meanwhile, GBP stablecoins remain undervalued, with a total market cap of $6.1m, mainly represented by @monerium’s GBPe and @VNX_Platform’s VGBP. GBP appreciated by 3% against the USD between the end of 2025 and early 2026, and this trend continues. GBP stablecoins could at least double their market cap, as stablecoins like GBPe are actively used in payments. It’s also worth highlighting UAH stablecoins, such as @UAHg_to and UAHe, which have a combined market cap of $1.2m. Unlike EUR stablecoins, Ukrainian ones have a purely local impact, but they are actively used and developed, largely thanks to the crypto exchange @WhiteBit. Overall, the European stablecoin market is clearly diversifying beyond USD dominance. While EUR and CHF stablecoins are already gaining scale, GBP and UAH stablecoins remain early-stage but show meaningful upside driven by payments use cases and local adoption.

🚀 SWIFT Trials Euro Stablecoin for Tokenized Bond Payments Société Générale-Forge announced its EUR CoinVertible stablecoin is being used in a trial with SWIFT for settling tokenized bond payments. The stablecoin is described as the first MiCA-compliant digital asset natively compatible with SWIFT's interoperability system, according to Cointelegraph.

🚀 Societe Generale's digital arm partners with Swift for tokenized bond settlement. SG-FORGE, the bank's digital asset division, used its MiCA-compliant EUR CoinVertible stablecoin to settle tokenized bonds via the Swift network, according to CoinDesk. The trial involved settling transactions using both cash and stablecoins.

According to Reuters, ten European banks including ING, UniCredit, BNP Paribas have founded a new company Qivalis, planning to launch an Euro stablecoin in the second half of 2026 to address the US-dollar-dominated digital payment landscape; the company is headquartered in Amsterdam, with former Coinbase Germany CEO Jan-Oliver Sell as CEO, former NatWest chairman Howard Davies as chairman, and is applying to the Dutch central bank for an Electronic Money Institution (EMI) licence. BNP Paribas is also participating in another project where ten large banks from the US and Europe explore stablecoins. https://t.co/emv54ku7dE

🚨BREAKING: 🇩🇪Deutsche Börse to add SocGen’s MiCA-compliant stablecoins into core market systems. Banks and asset managers will now be able to settle trades using tokenised euro💶 and dollar💵 cash across EU.🇪🇺

Bullish on @xMoney_com - Stablecoin infra. 🔥

The ECB is taking the next step towards the digital euro: It has signed framework agreements with seven tech companies, including Feedzai (AI-Fraud Detection) and Giesecke+Devrient (Security & Offline Payments). Goal: Develop a platform for the digital euro. No final decision has been made yet. The launch could take place from 2029, once the digital euro regulation is in place. In parallel, the ECB warns of risks posed by international stablecoins and urges clear rules in the EU.