- Spain accounted for about 36% of European retail EURC transactions from 2025 to the primary quarter of 2026.
- Based on knowledge from Brighty, Spain accounts for round 25% of complete European EURC transactions.
- EURC’s common transaction measurement is 49 euros, indicating using on a regular basis retail funds.
Spain grew to become Europe’s largest retail marketplace for Circle’s EURC stablecoin within the first quarter of 2026, in line with knowledge from digital banking platform Brighty. Based on the report, Spanish customers accounted for round 36% of all European retail transactions utilizing euro-backed digital belongings from 2025 to the primary quarter of 2026.
This progress comes as euro-denominated stablecoins achieve traction throughout Europe. In the meantime, EURC accounts for almost 49% of the roughly $887 million market capitalization of europegged digital belongings, in line with CoinGecko knowledge cited within the report.
Spain leads EURC retail utilization
Based on knowledge from Brighty, Spain accounts for round 25% of EURC buying and selling quantity throughout Europe. The figures put the nation forward of different regional markets in retail utilization of Circle’s euro-denominated stablecoin.
The common transaction quantity was roughly 49 euros (roughly $57). This quantity represented routine client funds, reasonably than large-scale institutional transfers or high-value cost exercise.
Brighty co-founder Nick Denisenko stated Spanish customers had been more and more treating the EURC like the normal euro. He linked this development to the benefit of use and low-friction conversion between EURC and Circle’s dollar-backed stablecoin USDC.
Notably, this knowledge reveals that demand for euro-backed stablecoins is growing as European policymakers proceed to debate options to digital belongings pegged to the greenback. The report additionally locations Spain on the heart of that change in retail funds.
Euro stablecoins entice coverage consideration
EURC market share confirmed broad-based progress in euro-denominated digital belongings. Based on CoinGecko knowledge cited within the report, EURC accounts for nearly half of the euro-pegged stablecoin market, valued at roughly $887 million.
Nevertheless, this sector continues to be smaller than the dollar-backed stablecoin market. European officers have expressed concern that the heavy use of stablecoins pegged to the greenback might strengthen the position of international digital cash in funds.
In April 2026, the French Finance Minister known as on Europe to develop extra euro-denominated stablecoins. The minister additionally known as on banks to step up efforts to counter the dominance of US dollar-backed digital belongings in world funds.
In the meantime, two months in the past, a consortium of main European banks introduced plans to concern a euro-denominated stablecoin within the second half of 2026. The token will maintain a 1:1 euro backing, with reserves consisting of financial institution deposits and high-quality short-term Eurozone authorities bonds.
Regulators check stablecoin fashions
Stablecoin exercise can be gaining consideration outdoors the European Union. The UK Monetary Conduct Authority just lately chosen 4 firms as a part of its cohort to check stablecoins inside its regulatory sandbox.
The FCA stated the cohort will allow firms to check stablecoin-related providers underneath the proposed regulatory framework in a protected and real-world atmosphere. The transfer types a part of the regulator’s wider dedication to innovation and progress in UK monetary providers.
However, European central bankers proceed to warn in regards to the potential dangers of increasing using stablecoins. The European Central Financial institution just lately stated that growing adoption of stablecoins might result in a decline in private financial institution deposits as households and companies transfer cash from financial institution accounts to digital belongings.
The ECB additionally warned that increasing using dollar-pegged stablecoins might convey international foreign money situations into the eurozone. Furthermore, such progress might weaken the circulate of euro space financial coverage by means of banks and conventional deposits, it stated.
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