## JP Morgan Predicts a Surge in Euro-Backed Stablecoins Due to MiCA According to a report by JP Morgan, the European Union's upcoming crypto regulatory framework, MiCA (Markets in Crypto Assets), is poised to significantly boost the market share of euro-based stablecoins. Current Market Standing of Euro-Backed Stablecoins Currently, euro-backed stablecoins occupy a mere 0.12% of the total stablecoin market capitalization. However, JP Morgan anticipates that MiCA will transform this landscape. MiCA's Impact on Stablecoin Adoption MiCA is expected to encourage European banks and financial institutions to embrace euro-stablecoins for various purposes, including fulfilling customer needs and facilitating blockchain-based financial settlements. Benefits of MiCA Compliance While achieving MiCA compliance may entail additional costs, it also presents long-term advantages for the crypto market. It promotes institutional adoption and fosters the growth of euro stablecoin usage. MiCA as a Model for Global Crypto Regulation Additionally, the report suggests that MiCA could serve as a blueprint for the United States' future crypto regulations under the incoming Donald Trump administration.