[USDC's Share in Euro-denominated Stablecoin Trading Rises to 56%, Surpassing USDT] According to data from crypto market data company Kaiko, USDC now accounts for 56% of euro-denominated stablecoin trading volume, up from 10% in January 2024, and has surpassed USDT. This market share shift accelerated after several European Economic Area exchanges restricted USDT trading under the Crypto Asset Markets Regulation Act (MiCA). USDC's liquidity in euro-denominated trading has also surpassed USDT, with its order book depth approximately 40% higher. However, USDT remains the world's largest stablecoin, with a circulating supply about 2.5 times that of USDC. About two weeks ago, the European Banking Authority (EBA) designated USDC as the EU's first "significant electronic money token" under the MiCA framework, imposing direct regulation on it. Kaiko also points out that the US GENIUS Act may drive similar changes in trading on US platforms; Tether launched its stablecoin USAT for the US market. (Cointelegraph)