USDC overtakes USDT in euro stablecoin trading as EU rules reshape market
Briefing by News4U · First published
USDC now accounts for 56% of euro stablecoin trading, up from 10% in January 2024, after exchanges restricted USDT under MiCA.
Cointelegraph reported that USDC has overtaken USDT in euro stablecoin trading, now holding 56% of the market share compared to 10% in January 2024, as exchanges restricted USDT trading for European Economic Area customers under MiCA. [1]
USDC’s euro-denominated order books are now about 40% deeper than USDT’s, while Tether maintains a global circulating supply roughly 2.5 times larger than USDC. [1]
The European Banking Authority recently designated USDC as the EU’s first “significant e-money token” under MiCA, placing it under direct EBA supervision. [1]
Sources
- USDC overtakes USDT in euro stablecoin trading as EU rules reshape market: Kaiko
Cointelegraph · · Full text