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Visa Report: Euro Stablecoins Dominate Non-USD Markets
Golden Finance reports that, according to a report commissioned by Visa, euro-pegged stablecoins account for over 80% of the non-USD stablecoin market. Dune indicates that the total supply in this market has grown to approximately $1.2 billion. The report points out that the use of euro stablecoins in payment infrastructure is increasing, and Visa and Mastercard have also expanded their settlement support for EURC within their networks.
Dune states that the current monthly trading volume of non-USD stablecoins is about $10 billion, reflecting a sharp increase in usage over the past three years. Despite this, euro stablecoins still represent a small portion of the broader stablecoin sector, which currently has a total size of around $300 billion to $316 billion. According to data from DefiLlama, euros still account for about 20% of global foreign exchange reserves.