France-Based Issuers Account for $827.7 Million in Euro Stablecoins

France-based issuers account for $827.7 million of the $933.9 million euro stablecoin market, representing about 89% and placing them far ahead of Luxembourg and Iceland.

Issuers based in Luxembourg account for $37.9 million, while those based in Iceland account for $27.2 million.

The country figures show the market by issuer location. In a separate measure, Circle’s and Société Générale’s euro stablecoins together made up 83% of the market. That figure combines the market share of two tokens, while the $827.7 million figure reflects issuers based in France.