- Spain accounted for about 36% of European retail EURC transactions from 2025 to the primary quarter of 2026.
- Based on information from Brighty, Spain accounts for round 25% of complete European EURC transactions.
- EURC’s common transaction dimension is 49 euros, indicating using on a regular basis retail funds.
Spain turned Europe’s largest retail marketplace for Circle’s EURC stablecoin within the first quarter of 2026, in line with information from digital banking platform Brighty. Based on the report, Spanish customers accounted for round 36% of all European retail transactions utilizing euro-backed digital property from 2025 to the primary quarter of 2026.
This development 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 property, in line with CoinGecko information cited within the report.
Spain leads EURC retail utilization
Based on information 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, fairly than large-scale institutional transfers or high-value cost exercise.
Brighty co-founder Nick Denisenko mentioned 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 information exhibits that demand for euro-backed stablecoins is growing as European policymakers proceed to debate alternate options to digital property pegged to the greenback. The report additionally locations Spain on the middle of that change in retail funds.
Euro stablecoins entice coverage consideration
EURC market share confirmed broad-based development in euro-denominated digital property. Based on CoinGecko information 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 may strengthen the position of international digital cash in funds.
In April 2026, the French Finance Minister referred to as on Europe to develop extra euro-denominated stablecoins. The minister additionally referred to as on banks to step up efforts to counter the dominance of US dollar-backed digital property in international funds.
In the meantime, two months in the past, a consortium of main European banks introduced plans to situation 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 take a look at stablecoin fashions
Stablecoin exercise can also be gaining consideration outdoors the European Union. The UK Monetary Conduct Authority just lately chosen 4 corporations as a part of its cohort to check stablecoins inside its regulatory sandbox.
The FCA mentioned the cohort will allow corporations to check stablecoin-related companies underneath the proposed regulatory framework in a protected and real-world setting. The transfer types a part of the regulator’s wider dedication to innovation and development in UK monetary companies.
Nonetheless, European central bankers proceed to warn in regards to the potential dangers of increasing using stablecoins. The European Central Financial institution just lately mentioned that growing adoption of stablecoins may result in a decline in private financial institution deposits as households and companies transfer cash from financial institution accounts to digital property.
The ECB additionally warned that increasing using dollar-pegged stablecoins may carry international foreign money situations into the eurozone. Furthermore, such development may weaken the circulation of euro space financial coverage via banks and conventional deposits, it mentioned.
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