Euro Stablecoin Transactions via Retail VASPs Surge 12-Fold to $777M in 15 Months

According to Fireblocks' 2025 State of Stablecoins report, euro stablecoin transactions processed by retail virtual asset service providers (VASPs) surged 12-fold to $777 million over 15 months. Banking Circle and SG-Forge have emerged as pioneers in MiCA-compliant stablecoins, launching the euro-backed digital assets EURI and EURCV respectively, both scaling production operations as European banks transition from pilot projects to production systems for tokenized assets and stablecoin payment rails.
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