💣 EU🇪🇺: USDC overtakes USDT in euro stablecoin trading volume thanks to higher liquidity

💣 EU🇪🇺: USDC overtakes USDT in euro stablecoin trading volume thanks to higher liquidity

Why❓ Because European exchanges are restricting the use of USDT in accordance with the MiCA regulation. Geopolitics strikes again: a new report by analytics provider Kaiko🇫🇷 confirms this regulatory trend.

🗣️ Key figures:

👉 Since January 2024, USDC’s share of euro-pegged stablecoin trading volume has surged from 10% to 56%.
👉 USDC has also overtaken USDT in euro-denominated liquidity. Its order books are now approximately 40% deeper than those of its competitor.

🗣️ What’s driving the shift: analysts describe stablecoin-euro trading pairs as “the main gateway into and out of crypto markets for European customers.” Furthermore, just a couple of weeks ago, the European Banking Authority (EBA) designated USDC as the EU’s first “significant electronic money token.” This institutional recognition gives the stablecoin a considerable advantage in terms of adoption.

🗣️ And yet: Tether remains the world’s largest stablecoin, with a circulating supply approximately 2.5 times greater than that of USDC. Meanwhile, the United States🇺🇸 is taking a similar regulatory approach to stablecoins under the GENIUS Act. Differences between the European and US regulatory frameworks could ultimately fragment the markets and affect trading activity in both regions.

#news #crypto #Europe #USA

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