With Revolut's EURR entering the market, there are now 20+ MiCA-compliant euro stablecoins, issued by EMIs and banks alike. The supply side is no longer a problem. There are more than enough euro stablecoin options and issuers to pick from. What the euro stablecoin market actually needs is more liquidity, integrations, on/off ramps, and real-world utility, especially cross-border. That's where we're focusing on with EURC, and the growth in wallets and business integrations is encouraging and shows the demand is there. S&P Global projects euro stablecoin supply could reach €1.1T by 2030. More issuers entering is good for the ecosystem and good for the euro's role in digital finance. The key to growth is network effects and scale (easier said than done), including outside the EU (cross-border > domestic euro stablecoin payments in the near future). That's why regulatory alignment and reciprocity between MiCA and other global stablecoin frameworks is a crucial ingredient for euro stablecoin growth. PS: An interesting side note: the ticker "EURR" is currently used by Maltese issuer StablR which has had both EURR and USDR minting and redemptions suspended for three months following a May cybersecurity incident in which an unauthorised party minted unbacked tokens. StablR has activated its MiCA recovery plan, which is supposed to be a temporary measure --> It's going to be interesting to follow both EURR tokens out there, alongside >20 other euro stables aiming to bring the euro onchain.(Patrick Hansen)