Key facts
- Tether's USDT is the dominant stablecoin for crypto payments.
- USDT settled $95 billion in commerce payments in H1 2026.
- Circle's USDC underpins decentralized finance.
- USDC processed $2.6 trillion in transfers on Base in June 2026.
- MiCA-compliant euro stablecoins grew 128% before the MiCA transition ended.
- Eight MiCA-compliant euro stablecoins had a combined market cap of $673.9 million by June 28, 2026.
- The Decta report details the growth of MiCA-compliant euro stablecoins.
Stablecoins are increasingly specializing in distinct areas of the cryptocurrency ecosystem. Tether's USDT has emerged as the leading stablecoin for crypto payments, facilitating $95 billion in commerce transactions during the first half of 2026. This indicates its widespread adoption for everyday transactions and commercial activity within the crypto space.
In contrast, Circle's USDC is solidifying its position as the backbone of decentralized finance (DeFi). In June 2026, USDC processed an impressive $2.6 trillion in transfers specifically on the Base network, highlighting its critical role in the operations and growth of DeFi applications. This significant volume underscores USDC's utility for high-value transactions and its integration into the DeFi infrastructure.
Meanwhile, euro-denominated stablecoins that are compliant with the Markets in Crypto-Assets Regulation (MiCA) have witnessed substantial expansion. According to a Decta report, these MiCA-compliant euro stablecoins saw their market capitalization surge by 128% in the year leading up to the conclusion of the MiCA transition period. By June 28, 2026, the combined market capitalization of eight such stablecoins reached $673.9 million. This growth suggests increased investor confidence and adoption of regulated stablecoin offerings within the European market as MiCA regulations become fully effective.