EURC

Can this project keep operating and funding itself for years?

Circle held €443.46 million in segregated reserves backing €440.66 million of EURC on October 19, 2026. Systemically important institutions held €438.49 million, or 98.9% of reserves.12

Can outsiders see and check what the team and the protocol do?

Circle publishes weekly reserve balances alongside 7-day, 30-day, and 365-day issuance and redemption flows. Independent Big Four accounting firms provide monthly AICPA attestations under French ACPR oversight.13

Does the protocol earn real fees or income from use?

Circle generated $701 million in Q2 2026 revenue and reserve income, up 7% year-over-year. Reserve interest on €443.46 million in EURC deposits accrues centrally to the issuer.43

Is the technology being built and shipped, and does it matter?

Cross-Chain Transfer Protocol moves native EURC across supported blockchains via burn-and-mint settlement without liquidity bridges. Native deployments span Ethereum, Solana, Base, Avalanche, Stellar, Arc, and World Chain.56

Who uses, builds and holds it, and how durable is that base?

EURC recorded €3.53 billion in 365-day issuance through October 19, 2026, with 30-day net circulation growing by €32.23 million. Spain accounted for 36% of Brighty EURC retail payments.178

Do supply, issuance and unlocks protect holders from dilution?

Each EURC is backed one-for-one by segregated euro deposits, with €443.46 million in reserves exceeding €440.66 million circulating on October 19, 2026. Supply expands strictly on demand.91

1. 1circle.com/transparencyCited for Sustainability, Transparency, Community, Tokenomics
2. 2circle.com/eurcCited for Sustainability
3. 3sec.gov/Archives/edgar/data/1876042/000187604226000150/crcl-20260331.htmCited for Transparency, Revenue
4. 4circle.com/pressroom/circle-reports-second-quarter-2026-resultsCited for Revenue
5. 5developers.circle.com/stablecoins/what-is-eurcCited for Innovation
6. 6circle.com/blog/cctp-extends-circles-crosschain-trust-layer-to-eurcCited for Innovation
7. 7coinmarketcap.com/academy/article/spain-tops-europe-eurc-retail-paymentsCited for Community
8. 8coingecko.com/en/coins/euro-coinCited for Community
9. 9circle.com/legal/eurc-termsCited for Tokenomics

• Circle disclosed €443.46 million in segregated reserves backing €440.66 million of EURC on October 19, 2026, with €438.49 million held at systemically important institutions.
• French ACPR Electronic Money Institution authorization under the European Union MiCA framework provides compliant issuance across European exchanges and payment institutions.
• Annual issuance reached €3.53 billion against €3.32 billion in redemptions over the 365 days ending October 19, 2026, expanding net supply by €215.62 million.
• Cross-Chain Transfer Protocol moves native EURC across Ethereum, Solana, Base, Avalanche, Stellar, and Arc via burn-and-mint settlement without third-party bridge pools.
• Parent issuer Circle generated $701 million in Q2 2026 revenue and reserve income while integrating ClearBank Europe for institutional euro clearing.

• Circle's user terms permit address freezing and blacklisting to comply with law enforcement or sanctions orders, removing censorship resistance for token holders.
• Direct one-to-one euro minting and redemption require an eligible Circle Mint institutional account, leaving retail holders dependent on secondary exchange liquidity.
• Full reserve allocation in European commercial bank deposits exposes EURC to Eurozone banking counterparty creditworthiness and European Central Bank policy rates.
• On October 14, 2026, the 37-bank Qivalis consortium secured a Dutch central bank EMI license to launch a competing euro stablecoin in late 2026.
• Non-euro international holders face foreign exchange rate fluctuations against the US dollar alongside potential long-term competition from a European Central Bank digital euro.

EURC holds over 65% of the euro stablecoin sector, supported by €440.66 million in circulation as of October 19, 2026. French ACPR authorization under the European Union MiCA framework gives Circle direct access to regulated European exchanges ahead of offshore competitors.

EURC maintains strong structural health as of October 21, 2026, backed by €443.46 million in disclosed bank reserves against €440.66 million in circulation. Net 30-day issuance added €32.23 million through October 19, 2026, supported by French ACPR supervision under MiCA and Circle's $701 million Q2 2026 revenue.