Spain Leads EURC Stablecoin Adoption as Euro Digital Payments Expand Under MiCA

Retail Usage Dominates EURC Activity in Spain

Spain has emerged as the leading retail market for EURC, according to data from Brighty. Spain accounted for approximately 36% of EURC transactions and 25% of total volume across 2025 and early 2026, making it the most active market on the platform.

Brighty co-founder Nick Denisenko said EURC functions like a standard euro for Spanish users, enabling seamless payments without exchange rate friction when used alongside USDC. Average transaction sizes in Spain are relatively low at around 49 euros, pointing to strong retail usage such as peer-to-peer transfers and everyday spending.

European Markets Show Mixed Stablecoin Use Cases

Italy ranks second with 15.5% of transactions and 18% of volume, while Germany accounts for about 13% of transactions and 19% of volume, with higher average payments near 105 euros. France stands out with an average transaction size of 171 euros, indicating larger-value transfers rather than daily usage.

Euro Stablecoins Gain Traction Amid Regulatory Push

Issued by Circle, EURC represents roughly 49% of the €887 million euro stablecoin market. Denisenko noted Spain’s strong adoption reflects early user engagement, familiarity with crypto, and institutional readiness, positioning it as a key hub for euro stablecoin activity under the EU’s MiCA regulatory framework.