Stablecoin Transactions Surge in Europe, Driven by MiCA and Institutional Backing

Stablecoins are experiencing a surge of activity in Europe, with over 8.8 million transactions recorded recently on Ethereum and Solana. This represents a substantial portion of global stablecoin activity, exceeding 36%. The growth is attributed to the recent implementation of the EU’s Markets in Crypto-Assets (MiCA) framework, which has boosted confidence in regulated and Euro-backed digital assets. The MiCA rules have mandated full reserve backing, audited transparency, and EU banking partnerships for stablecoin issuers. This stricter regulatory environment is fostering trust among investors and regulators alike.