J.P. Morgan analysts state that the EU's landmark Markets in Crypto-Assets (MiCA) regulation will take effect on December 30, 2024, which may enhance the market share of euro-pegged stablecoins.

In a report, J.P. Morgan analysts noted that currently, euro-pegged stablecoins account for only 0.12% of the stablecoin market share, but MiCA could improve this situation by encouraging European banks and financial institutions to adopt euro stablecoins to meet customer needs and facilitate blockchain-based financial settlements. The analysts pointed out notable examples such as the EURCV stablecoin from Société Générale and the stablecoin that BBVA plans to launch in collaboration with Visa.