MiCA Regulation May Boost Euro-Pegged Stablecoins Market Share

According to Odaily, analysts from JPMorgan have indicated that the European Union's landmark Markets in Crypto-Assets (MiCA) regulation, set to take effect on December 30, 2024, could significantly increase the market share of euro-pegged stablecoins. Currently, these stablecoins account for only 0.12% of the stablecoin market. However, MiCA could encourage European banks and financial institutions to adopt euro stablecoins to meet customer demands and facilitate blockchain-based financial settlements. Notable examples include Société Générale's EURCV stablecoin and BBVA's planned stablecoin in collaboration with Visa.