Core Insights - A consortium of nine European banks is planning to launch a shared stablecoin by 2026, indicating a significant shift in the banking sector towards integrating stablecoins into their operations [1] - Major banks like JPMorgan and Société Générale are actively expanding their stablecoin offerings, reflecting a growing acceptance of stablecoins in traditional finance [1][2] Group 1: Regulatory Changes - Recent regulatory frameworks, such as MiCA in Europe and the GENIUS Act in the U.S., have established guidelines that align with existing banking regulations, facilitating banks' compliance with stablecoin operations [4] - The introduction of clear rules regarding reserves, redemption rights, and AML controls has removed compliance as a barrier for banks adopting stablecoins [4] Group 2: Shift in Use Cases - The use case for stablecoins has evolved from speculative trading to practical applications in payments, which has prompted banks to take stablecoins seriously [4][5] - In 2025, USDT processed $156 billion in transactions under $1,000, primarily for retail payments and remittances, demonstrating stablecoins' utility in everyday financial transactions [5] Group 3: Differentiation Among Stablecoins - The market often conflates stablecoins, but there are significant differences in their structures and risk profiles, such as USDC's reliance on cash and U.S. Treasuries versus USDT's broader reserve mix [6] - DAI employs over-collateralization with crypto assets, while algorithmic stablecoins like Ethena's USDe use derivatives to maintain their peg, highlighting the diverse approaches within the stablecoin market [7]

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]

Core Insights - The euro stablecoin market has experienced a significant rebound since the implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), with market capitalization doubling to approximately $680 million by May 2025 [1][3] Market Performance - The "Euro Stablecoin Trends Report 2025" indicates a potential shift in the euro stablecoin market, contrasting with a 48% contraction in the previous year and a 26% increase in the total stablecoin market cap [2] - The euro stablecoin market cap has climbed to around $500 million by May 2025, primarily due to improved issuer obligations and standardized reserve requirements [3] - Despite the growth, the euro stablecoin market remains a small fraction of the $300 billion market dominated by U.S. dollar-pegged tokens, particularly Tether's USDT and Circle Internet's USDC [3] Token Performance - Growth has been concentrated among standout tokens, with EURS issued by Stasis seeing a dramatic increase of 644% to $283.9 million by October 2025 [4] - Circle Internet's EURC and Societe Generale's EURCV also recorded significant gains, contributing to the overall market growth [4] Transaction Activity - Monthly transaction volume for euro stablecoins surged nearly ninefold to $3.83 billion following MiCA's implementation, with EURC and EURCV experiencing volume increases of 1,139% and 343% respectively [5] - The surge in transaction activity is attributed to increased usage in payments, fiat on-ramps, and digital-asset trading [5] Consumer Awareness - Consumer awareness of euro stablecoins has risen, with notable spikes in search activity across the EU, including a 400% increase in Finland and 313.3% in Italy, along with steady growth in Cyprus and Slovakia [6]

Group 1 - BNP Paribas is joining nine other European banks in a joint venture to issue a stablecoin, reflecting traditional financial firms' interest in the growing digital asset market [1][2] - The initiative, named Qivalis, is based in Amsterdam and includes banks such as ING, UniCredit, and CaixaBank, with plans to launch the stablecoin in the second half of 2026 [2][5] - The venture aims to create a blockchain-native digital payment infrastructure in Europe that complies with the EU's Markets in Crypto-Assets (MiCA) regulations, focusing on corporate client needs [3][4] Group 2 - Stablecoins are gaining popularity as a cost-effective and faster alternative for cross-border payments, with the ten banks seeking to provide an alternative to dominant dollar-pegged stablecoins like USDT and USDC in the $300 billion market [4] - Euro-denominated stablecoins have struggled, with a total supply of only $670 million; Société Générale's euro token (EURCV) has a market value of $62 million, while Circle Internet's EURC leads with $330 million [5] - Qivalis is developing its governance framework and anticipates receiving regulatory approval before its planned launch in 2026 [5]

Stablecoin & DeFi Market - Stablecoin summer continues with increased token availability and liquidity [1] - 1inch now supports EURCV and USDCV, the first MiCA-compliant stablecoins from Societe Generale Forge [1] - The integration aims to bridge DeFi freedom with institutional credibility [1] Partnerships & Technology - Flowdesk_co is the new resolver facilitating the increased token availability [1] - Swap functionality for EURCV and USDCV is available on 1inch [1]

Group 1: Core Insights - ODDO BHF has launched EUROD, a euro-backed stablecoin, marking a significant step for traditional banks into regulated blockchain finance [1][2] - The token will be listed on Bit2Me, a Madrid-based exchange, which is authorized under the EU's MiCA regulation, allowing it to operate across the EU [2][3] - EUROD is issued on the Polygon network, ensuring faster and cheaper transactions, and is fully backed by euro reserves with external audits [3] Group 2: Regulatory Framework - The MiCA regulation requires stablecoin issuers to maintain one-to-one reserves and guarantees for redemption, promoting governance and transparency [4] - The rollout of EUROD will serve as a test for the effectiveness of MiCA in harmonizing digital asset oversight across the EU [4] Group 3: Market Context - Euro-pegged stablecoins have seen a doubling in market cap this year, with Circle's EURC leading at approximately $270 million [6] - Despite warnings from ECB officials about the risks of foreign stablecoins, the clarity provided by MiCA is fostering competition among European banks to issue compliant stablecoins [7][8]

The supply for EURCV on @ethereum is up by ~400% YoY.EURCV is a stablecoin issued by @SocieteGenerale, a French multinational bank & financial services company founded in 1864. https://t.co/i0Qb128mr2 ...

Stablecoin Market - EURCV 在以太坊上的供应量同比增长约 400% [1] - EURCV 是由法国跨国银行和金融服务公司 Societe Generale 发行的稳定币 [1] - 行业巨头正在以太坊上进行建设 [1]

Stablecoin Market - EURCV 在以太坊上的供应量同比增长约 400% [1] - 法国兴业银行（Societe Generale）发行的稳定币 EURCV 正在以太坊上发展 [1] Financial Institutions & Blockchain - 传统金融机构正在以太坊上构建应用 [1]

related:https://t.co/68Oky65N3WSpiko (@Spiko_finance):From now, EUTBL and USTBL holders can borrow SG Forge’s MiCA-compliant stablecoins EURCV & USDCV on @MorphoLabs via @Ethereum.♾️Up to 96.5% LTV🎯 Risk managed by @MEVCapital💸 Incentivized through @merkl_xyz ...