What is EURC and is it MiCA compliant?

EURC is a euro stablecoin created by Circle, the issuer of USDC. Each EURC is meant to be worth one euro and backed by euro reserves. It runs on several public blockchains, so people and businesses can send euro value around the clock without a bank transfer.

What is EURC stablecoin?

Circle announced its euro coin in June 2022 and launched it on Ethereum that month under the ticker EUROC. It has since become EURC. Circle says EURC is backed 100% by euros held in reserve, publishes monthly attestations of those reserves, and treats EURC as always redeemable 1:1 for euros.

As of October 2026, Circle lists Ethereum, Solana, Avalanche, Base and Stellar as the main networks for EURC, with additional deployments on chains including Arc, Cronos, Plasma and World Chain. Circle's page reported about €447 million in circulation in mid-October 2026.

Direct minting and redemption go through Circle Mint, which serves qualified businesses and wholesale distributors. Most individuals get EURC on exchanges or in wallets instead.

Is EURC MiCA compliant?

Yes, according to Circle. The EU's MiCA regulation began applying to stablecoins in June 2024, and it treats single-currency coins like EURC as "e-money tokens." To issue EURC as one, Circle applied to become an electronic money institution in France.

On July 1, 2024, Circle said its French company, Circle Internet Financial Europe SAS, had received an electronic money institution license from the ACPR, France's banking supervisor. From then on, both EURC and USDC were issued in the EU under MiCA. Circle noted this was subject to possible clarifications from the European Commission. Because of the license, European business customers can mint and redeem both coins through Circle Mint France.

What is the difference between EURC vs USDC?

The main difference is the currency. USDC tracks the US dollar and EURC tracks the euro, so their value against each other moves with the euro to dollar exchange rate. Holding EURC means exposure to the euro, not the dollar.

Beyond that, they share a lot. Both are issued by Circle, both are fully reserved and redeemable 1:1 in their own currency, both publish monthly attestations, and both are issued under MiCA in the EU. EURC is much smaller and available on fewer networks. For how USDC compares with the largest dollar stablecoin, see USDT vs USDC.

Why use a euro stablecoin?

A euro stablecoin can be useful for people and firms that price things in euros but want to settle on a blockchain. Examples include paying European suppliers, trading crypto against the euro, or moving funds between exchanges outside banking hours. For a broader look at how these coins work, see our guide to stablecoins.

Rules differ by country and change often. Check the relevant regulator or a qualified professional for your own situation.