Angle to shutter euro stablecoin EURA after 5-year slide from top spot

Core Insights - EURA, once the leading euro-pegged stablecoin, will be shut down due to declining interest from users [1][2] - Angle Protocol's decision to wind down EURA is aimed at minimizing operational overhead and liabilities for a shrinking user base [2][3] - The decentralized stablecoin market has evolved, with yield-bearing stablecoins becoming more prevalent, reducing the need for dedicated infrastructure [4] Market Dynamics - The market for euro-pegged stablecoins has seen significant growth, increasing from $315 million in March 2025 to $729 million, a 131% rise [5] - Circle's EURC has emerged as the dominant euro stablecoin, holding over half of the market with a capitalization exceeding $60 million [5] - S&P Global Ratings predicts that top European banks will issue euro-pegged digital tokens, with the market expected to reach €1.1 billion ($1.2 billion) by 2030 [5] Closure Process - Angle tokenholders voted unanimously to close EURA and USDA, with only four voters participating, indicating a lack of interest [3] - Holders will be able to redeem their stablecoins for collateral or exchange them on a one-to-one basis with Circle's stablecoins [6] - After one year, the redemption mechanism will be discontinued, likely leading to a loss of peg for the stablecoins [6]