As Europe prepares for the MiCA regulations, stablecoin demand has largely benefited Circle, data from Kaiko shows. Circle’s stablecoins, EURC and USDC, saw significant trading volume increases after MiCA’s introduction.
Société Générale’s Euro Convertible (EURCV) also saw a modest uptick in volume, but it remains limited. Kaiko reports that compliant stablecoins’ market share has grown, indicating rising demand for transparency and regulation.
USDC’s weekly trading volume surged to $23 billion in 2024, up from $9 billion in 2023. This growth is driven by its use in both decentralized and centralized exchanges, especially in perpetual futures settlements for Bitcoin and Ethereum.
Circle was the first to achieve MiCA compliance, boosting its market position. The strategic shift towards compliant stablecoins suggests a long-term trend favoring regulatory adherence in the crypto market.
