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Crypto OTC Review | Q1 2026

This edition of Finery Markets' OTC Review focuses on the accelerating role of euro-denominated stablecoins in institutional crypto trading, with EURC emerging as the fastest-growing asset within the segment.

Key data for Q1’26:

  • Crypto spot OTC trading volume increased by +43% YoY, while transaction count surged by +160% YoY

  • EURC recorded exceptional growth of +41x YoY, significantly outpacing all major digital assets and stablecoins. 

  • Stablecoin volumes increased by +59% YoY, with their share of total OTC trades rising to 82%, reinforcing their role as the dominant settlement layer. 

The expansion of EURC aligns with regulatory developments in Europe, where MiCA-driven delistings of non-compliant USD stablecoins accelerated the adoption of euro-denominated alternatives. 

The report analyzes institutional trading flows across OTC markets, benchmarking EURC’s growth against broader stablecoin and crypto market dynamics.

For this review, Finery Markets analyzed over 5.2 million institutional spot crypto trades executed on its platform in Q1 2026.

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