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Euro stablecoins struggle to gain traction despite new rules

Dollar-based stablecoins continue to dominate the stablecoin market, leaving euro-based tokens struggling to gain traction. Data compiled by crypto research firm Kaiko show monthly spot trading volume for euro stablecoins has fallen to about $100 million this year from about $200 million in early 2024. Kaiko said euro stablecoins have failed to generate meaningful trading activity despite the EU’s MiCA framework designed to support compliant issuers.