The Top 5 Euro stablecoins

While the price of most cryptocurrencies like Bitcoin or Ethereum fluctuates, stablecoins are interesting for trading and operating on the blockchain without being subjected to market volatility.

The majority of stablecoins track the value of the US Dollar — given its prevailing influence in both the crypto realm and broader financial markets — however other stablecoins have emerged as alternatives, notably those pegged to the Euro.

Here are the top 5 Euro-based stablecoins along with their main characteristics: issuer, type of stablecoin, market capitalization, supported blockchains, reserve assets, and availability on cryptocurrency exchange platforms.

The American company Tether, primarily known for its US Dollar stablecoin USDT, also issues EURT, a stablecoin pegged to the Euro. With fiat reserves in Euros guaranteeing its 1:1 parity, EURT provides users with a stable option to exchange digital assets on the blockchain.

However, it's worth noting that Tether has been subject to past controversies regarding the verification of its reserves. Despite its position as one of the largest stablecoin issuers globally, this is an aspect investors may need to consider.

ALT

Circle is a US-based company founded in 2013 by Jeremy Allaire. Circle issues the US Dollar stablecoin USDC. Coinbase, the renowned cryptocurrency exchange, is one of the main shareholders of Circle.

Circle launched EURC in June 2022. EURC is a stablecoin fully backed by Euros held in US bank accounts denominated in Euros. For each EURC stablecoin issued, there is 1 Euro in Circle's reserves.

EURC is exchangeable at a fixed rate of 1:1 against the euro, ensuring its stability. The EURC tokens represent liabilities, while the Euros held in Circle's bank accounts are the assets.

Angle is a decentralized finance (DeFi) protocol specialized in building resilient stablecoin infrastructures. Angle launched EURA (previously known as agEUR) in November 2021, making it a pioneer among Euro stablecoins.

EURA maintains a 1:1 parity with the Euro, secured by reserves in cryptocurrencies like tokenized bonds (real-world assets, aka RWAs), Ethereum, Bitcoin, and other Euro stablecoins. Its decentralized nature renders EURA a highly sought-after stablecoin within the decentralized finance (DeFi) community.

In addition to its stability, EURA provides users with the opportunity to generate passive income through its onchain Euro savings solution.

EURA is available on multiple blockchains: Ethereum, Polygon, Arbitrum, Optimism, Base, BNB, Celo, Avalanche, Linea, and Gnosis.

EURA is the most traded Euro stablecoin in the crypto market today, owing to its availability on over 10 blockchains, its robustness, and the passive yield it generates.

Angle also issues a Dollar stablecoin: USDA.

Founded in 2018, Stasis is a tech company based in Malta that issues the EURS stablecoin. EURS is a digital Euro designed to mirror the price of the European currency.

EURS is backed by the value of the Euro and designed to offer a secure method for holding and transferring value, akin to the stability of the Euro as a currency. The token is fully guaranteed by a reserve of Euros, ensuring its value remains pegged to a 1:1 exchange rate with the Euro.

The Celo blockchain provides a range of stablecoins backed by various assets, including fiat currencies and commodities.

The Celo project issues stablecoins tied to various currencies, including a Dollar stablecoin (cUSD), a stablecoin pegged to the Brazilian Real (CREAL), and a Euro stablecoin (CEUR).

CEUR is an algorithmic stablecoin, maintaining its parity with the Euro through a stability mechanism driven by algorithms.

To mint CEUR stablecoins, users are required to deposit an amount equivalent to 1 Euro in CELO tokens into the stablecoin reserve.