Melodiev.

The euro represents 20% of foreign exchange reserves, but less than 0.5% of global stablecoin supply. One reason, amongst many others, is that barely anyone uses euro stablecoins to trade crypto-assets on centralized exchanges (CEXs), esp. compared to USD-stablecoins. Even EU consumers that trade in euros use fiat euros (99%), not euro stablecoins (<1%). These trades are, most likely, simple buy & sell trades from occasional, non-crypto native EU retail customers through brokers. For more complex and institutional trading activities, even EU users and entities use dollar-denominated stablecoins, because these markets are global, much broader, much more liquid, much cheaper and way better integrated into crypto capital market structures. Not surprisingly, dollar trading happens primarily through USD-stablecoins (90%), not fiat (10%). Euro-denominated trading is 100% European, while large parts of dollar-denominated trading is global, non-US volume. Crypto capital markets are global, and when global liquidity begets more liquidity from around the world, no regional markets can compete. Euro-denominated stablecoin trading will grow, particularly as and when crypto-capital markets converge with the larger financial markets (tokenization) and the real world economy (stablecoin payments). But it definitely won't happen overnight and will require significant investment. Today, EURC is the most widely listed euro-stablecoin available at @coinbase, @Bitpanda_global, @Bitstamp, @bitvavocom, @mtpelerin, @HuobiGlobal, @MercadoBitcoin, @SafelloAB and many other places. We are on the right track, but it's a marathon, not a sprint.

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