TechFlow news, October 15 — According to The Block, citing a recent report from Kaiko Research, since partial implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation in June 2024, MiCA-compliant stablecoins have come to dominate the euro-denominated stablecoin market. Compliant stablecoins such as Circle's EURC and Société Générale's EURCV now hold a 67% market share—the highest on record.
Kaiko analysts noted that this shift in market share has been primarily driven by Coinbase. Since August 2024, Coinbase has surpassed Binance as the leading platform for euro stablecoin trading. While Coinbase actively promotes MiCA-compliant assets, Binance mainly offers non-compliant euro stablecoins with zero-fee trading, primarily targeting non-European users.
