S&P: Euro stablecoin market cap seen at $1.3 trillion by 2030

JH Kim

Summary

S&P Global Ratings said it expects the market capitalization of euro stablecoins to grow to about $1.3 trillion by 2030.
The report estimates euro stablecoins will have a market cap of about €650 million at end-2025, with potential to expand by roughly 1,600 times.
The report said factors such as blockchain scalability, institutional investment in tokenized assets, and MiCA could boost demand for euro stablecoins.

The euro-denominated stablecoin market could grow sharply over the next several years, a new outlook suggests, as stablecoins may take on a bigger role within the eurozone financial system.

According to crypto media outlet The Block on the 3rd (local time), S&P Global Ratings said in a report that the euro stablecoin market’s capitalization could rise to €1.1 trillion by 2030—about $1.3 trillion. That is equivalent to about 4.2% of eurozone banks’ overnight deposits.

The report estimates that euro stablecoins’ market cap will stand at around €650 million as of end-2025, and points to the potential for roughly 1,600-fold expansion. While the market is currently small, it said there is substantial room for growth amid regulatory groundwork and changes in the technology landscape.

S&P said much of the groundwork for adopting euro stablecoins is already in place. It cited advances in blockchain scalability, increased institutional investment in tokenized assets, and improved interoperability with new payment systems as drivers of demand.

It also pointed to the European Union’s Markets in Crypto-Assets (MiCA) regulation as a key factor that has encouraged institutional participation. With a clear regulatory framework in place, the report said euro-denominated stablecoins could be used more actively across regulated finance and payment infrastructure.