Wirex Whitepaper Forecasts €1 Trillion European Stablecoin Market by 2030

Wirex, a UK-based digital payments provider, released a whitepaper on October 29 predicting that Europe's stablecoin market could reach €1 trillion by the end of the decade. The growth is expected to be driven by euro-denominated tokens compliant with the EU's MiCAR regulation.

The current global stablecoin market is dominated by USD-denominated tokens, with EUR-backed tokens valued at less than €350 million.
Wirex forecasts a 10-15x growth for MiCAR-compliant euro tokens and advocates for coordinated EU incentives to enhance EUR-backed stablecoins for monetary sovereignty.

Programmable Money and Banking Infrastructure

Stablecoins are entering mainstream finance as payment instruments under MiCAR regulations, transitioning from mobile banking to programmable money.
Emerging trends include agentic payments, where AI and smart contracts autonomously conduct transactions, similar to Circle’s integration with Coinbase's x402 protocol using [USDC](https://holder.io/coins/usdc/).
Stablecoin-native challenger banks may combine non-custodial wallets, on-chain settlement, and card networks across FinTech services.

Wirex Strategy and Industry Context

Wirex has its European headquarters in Milan, viewing MiCAR compliance as a competitive edge.
The platform has processed over $20 billion in transactions since inception.
Other firms like Western Union plan to launch stablecoins, with Circle obtaining an e-money license in France to issue its EURC under MiCAR.
ClearBank plans to join Circle’s network to expand EURC access in Europe.

Policy Recommendations

The whitepaper suggests harmonizing MiCAR implementation across EU Member States to avoid regulatory fragmentation.
Proposals include incentives for merchants to adopt EUR-stablecoins through reduced fees and faster settlements.
Further recommendations involve regulatory sandboxes and ensuring interoperability between the digital euro and private stablecoins.

The stablecoin market is expanding beyond traditional firms, as shown by Abu Dhabi’s MGX using a stablecoin for a significant investment in Binance, contributing to notable crypto earnings for entities like the Trump Organization.