USD Coin (USDC) Takes 56% of Stablecoin Trading Against the Euro
Photo: TokenPost
USD Coin (USDC) now holds 56% of stablecoin trading against the euro after exchanges restricted Tether's USDt (USDT) for European Economic Area customers under European Union rules. The share stood at 10% in January 2024. The shift accelerated after exchanges limited USDT trading for customers in the European Economic Area (EEA) under the EU's Markets in Crypto-Assets Regulation (MiCA). The measure counts stablecoins exchanged against euros, including USDC/EUR pairs; it does not measure stablecoins pegged to the euro. These pairs let customers exchange euros for dollar-pegged stablecoins and return to euros when entering or leaving crypto markets.
Also reported by Coinotag.
Source: TokenPost
