The Number of Euro-Pegged Stablecoins Has Swelled 1,683% Since 2020

[sirty143]

The Number of Euro-Pegged Stablecoins Has Swelled 1,683% Since 2020

While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%... See more for yourself here.

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[Noverteno]

The fact that the issuance of euro-backed stablecoins increased by 1683% indicates two positive things. The first is the general growth of stablecoins in recent times and the increase in demand for them, and the second is evidence of the strengthening of the euro in the world. In general, these are very positive trends, which also mean an increase in the popularity of cryptocurrency.

[Astra]

The issuance of the number of different stablecoins has been growing tremendously in recent years. Since they are in fact basically digital fiat and at the same time a connecting link between fiat and cryptocurrency, which allows for more efficient use of cryptocurrency, this first indicates the growth in demand and popularity of cryptocurrencies. At the same time, the risk of various abuses by the stablecoin team or errors in the organization of their functioning is growing in this segment. Therefore, soon the states will regulate their circulation more strictly. In addition, the issuance of CBDC by states will also require this, because the digitized currencies of states will compete with the current private stablecoins.