Euro stablecoin market — September 2026

A deterministic month-in-review of the euro stablecoin market for September 2026: aggregate circulating supply, month-over-month change, the largest supply movers, and on-chain transfer activity. Figures are computed from Euro Stablecoins canonical data; this report states magnitudes only, never a cause.

This is a factual, automatically-generated month-in-review covering the observation window 2026-09-01 to 2026-09-30. Every figure is computed from Euro Stablecoins canonical on-chain data. It reports what changed and by how much — it does not attribute causes.

Market supply

The tracked euro-stablecoin market (aggregate-eligible assets) closed September 2026 at €760.8M in aggregate circulating supply, from €697.7M at the start of the month — a month-over-month change of +9.0% across 27 aggregate-eligible assets. This is the same headline circulating aggregate shown on the supply dashboard and the chain distribution: on-chain supply, treasury-held amounts subtracted where applicable, using each asset's latest observation before 2026-09-01 00:00 UTC (open) and on 2026-09-30 (close).

Largest supply movers

Assets with the largest absolute circulating-supply increase over the month:

Assets with the largest absolute decrease:

Transfer activity

Total on-chain peer transfer volume across all tracked assets was €16.75B over September 2026, against €13.54B the month before (+23.7%); 23 assets recorded volume. Peer transfer volume measures value moved between non-issuer addresses, excluding mint and burn, with the same definition and row-validity rules as the transfer-volume dashboard, which also shows per-asset chain coverage. The largest assets by monthly volume:

Method & caveats

Supply is circulating supply read on-chain, summed over aggregate-eligible assets under the documented aggregate-inclusion methodology; transfer volume covers every tracked asset and excludes mint, burn and self-transfers. Transfer-volume coverage differs by asset and chain, and a change of “—” means there was no prior-month volume to compare against. Launches, wind-downs and cause attribution are not auto-detected — this report states magnitudes and directions only, never a cause. For per-asset data ages and known coverage gaps, see data coverage.