eToro and 10 European Firms Form Consortium to Push Euro Stablecoin EURØP
- —Members include eToro, Coinhouse, Coinmerce, SwissBorg, LCX, DFNS and RockawayX
- —EURØP had 15.5 million tokens in circulation on October 1, versus 403.1 million for Circle's EURC
- —Dollar-pegged tokens make up about 99% of global stablecoin market value, per the ECB
- —The consortium will focus on distribution, wallet integrations and education
Why it matters: Euro stablecoins remain a fraction of the market, and an alliance of exchanges and wallets could accelerate their adoption in the EU under MiCA.
Source: Finance Magnates Crypto