S&P Forecast: Euro Stablecoin to Reach a Peak of €1.1 Trillion by 2030, Growing 1,600 Times

The euro stablecoin market is entering a rapid growth phase, with a S&P report predicting a scale of up to 1.1 trillion euros by 2030. European banks are actively positioning themselves, and with MiCA regulation providing legal certainty, euro stablecoins are expected to become a new pillar of Europe’s digital finance.
(Background: The Central Bank of the United Arab Emirates approved the US dollar stablecoin USDU, the first settlement token compliant with regulatory framework)
(Additional context: Deutsche Bank’s “EURAU” euro stablecoin launched: certified by both MiCA and Germany, will the European payment landscape be rewritten?)

Table of Contents

• Astonishing Market Growth Potential
• MiCA Regulations Provide Regulatory Certainty
• Divergent Global Forecasts and Competitive Dynamics

As the wave of digital financial transformation sweeps in, the euro stablecoin market is experiencing unprecedented growth opportunities. According to the latest report from S&P Global Ratings, the euro stablecoin market, which was only 650 million euros at the end of 2025, is expected to reach 1.1 trillion euros in a high scenario by 2030, a growth multiple of 1,600 times, demonstrating the potential for stablecoins to become a key pillar of Europe’s financial digitization.

Astonishing Market Growth Potential

S&P’s report divides the euro stablecoin growth into baseline and high scenarios. Under the baseline, the market size could reach 570 billion euros by 2030, accounting for about 2.2% of total eurozone bank deposits. The report indicates that tokenized investments will contribute approximately 500 billion euros, while tokenized payments will contribute about 100 billion euros.

In comparison, the US dollar stablecoin market is already relatively mature, with a market cap of about 310 billion USD by the end of 2025. Analysts believe that the eurozone, with a RWA market of 28 trillion euros, could see strong support if tokenization levels gradually catch up to US standards.

Furthermore, the application scope of stablecoins is expanding from crypto asset trading to real-world investments and payments, which is a core driver of high growth multiples.

MiCA Regulations Provide Regulatory Certainty

The EU’s Markets in Crypto-Assets Regulation (MiCA) officially came into effect in January 2025, establishing clear standards for reserve assets, segregation, redemption rights, disclosure, and issuer prudence, providing legal protection for market entrants.

Although some technical details are still to be finalized by the European Banking Authority, and the European Commission is expected to complete a comprehensive review by June 2027, MiCA has undoubtedly become a key catalyst for the rapid development of euro stablecoins.

Divergent Global Forecasts and Competitive Dynamics

Major financial institutions have differing forecasts for the stablecoin market. Citibank’s baseline predicts that by 2030, the euro stablecoin market cap could reach 1.9 trillion USD, with a bullish scenario reaching as high as 4 trillion USD; Standard Chartered expects it to reach 2 trillion USD by 2028; JPMorgan is more conservative, estimating only 500 billion to 600 billion USD by 2028, mainly due to competition from tokenized bank deposits and central bank digital currencies.

S&P’s report notes that although euro stablecoins started later, with the advantage of MiCA regulation and active participation by banks, they are poised to play an important role in the future wave of digital finance.