Euro vs. Euro-Pegged Stablecoins: A Report by Kaiko
Kaiko’s latest report highlights significant growth in the European cryptocurrency market, with trading volumes involving the euro tripling over the past three months to reach $16 billion.
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Kaiko's latest report highlights significant growth in the European cryptocurrency market, with trading volumes involving the euro tripling over the past three months to reach $16 billion.
Cryptocurrency exchanges offer trading pairs in both conventional euros and a variety of EUR-pegged stablecoins. Presently, traders overwhelmingly opt for the fiat euro in 99.06% of transactions, suggesting a wariness towards euro-linked stablecoins. In stark contrast, fiat USD is used in only 10.22% of dollar-based pairs.
Despite this, the market is expanding, partially driven by the evolving MiCa regulatory framework, which is attracting venture capital into the crypto sector.
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