Non-USD Stablecoin Supply Reaches $1.1 Billion in February, Euro Stablecoins Dominate Market Cap

A recent report by Visa and Dune highlights significant growth in the non-USD stablecoin market. According to NS3.AI, the supply of these stablecoins reached $1.1 billion in February, with transfer volumes soaring to $10 billion. The report reveals that over 1.2 million addresses are holding these tokens, with substantial balances found in user wallets, centralized exchanges, and institutional treasuries. Euro stablecoins constitute more than 80% of the market cap, while Circle's EURC is responsible for over 90% of the non-USD stablecoin transfer volume.