Market Overview - Euro stablecoins market capitalization surpasses $1 billion, marking significant adoption [1] - Euro stablecoins experienced 100% year-to-date (YTD) growth [1] - USD stablecoins market capitalization is approximately $309 billion [1] Cryptocurrency Landscape - Ethereum leads the stablecoin landscape as of December 2025 [1] Macroeconomic Context - Eurozone M2 Money Supply is approximately $15.9 trillion [1]

Market Overview - Euro M2 money stock is approximately $15.5 trillion [1] - Euro stablecoins supply has surpassed $1 billion [1] - Euro stablecoins represent approximately 0.006% of the Euro M2 money stock [1] Stablecoin Adoption - Euro stablecoins adoption is effectively non-existent at a macro level [1] - Euro stablecoins adoption lags significantly behind USD stablecoins [1] - Recent growth in Euro stablecoins is visible, but starts from a near-zero base [1] Stablecoin Ecosystem - Ethereum hosts the largest share of Euro stablecoins [1] - Liquidity across other chains for Euro stablecoins is fragmented [1] - No dominant Euro stablecoin rail has emerged yet [1]

Market Trends - Euro-denominated stablecoins market cap doubled after June 2024 rules took effect, reversing a previous 48% decline [1] - Monthly transaction volume of euro stablecoins increased approximately 9x, from $383 million to $3.8 billion [1] - Euro stablecoins market cap is ~$680 million, significantly lower than USD stablecoins at $300 billion [1] Leading Stablecoins - EURS, EURC, and EURCV led the gains in euro-denominated stablecoins [1]