Decentralized Euro (dEURO) is a crypto-backed euro stablecoin. It has about $1.5M in circulation, ranking #198 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
What is dEURO?
Decentralized Euro (dEURO) is a crypto-backed euro stablecoin. It has about $1.5M in circulation, ranking #198 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
In the issuer's words: dEURO is a collateralized, oracle-free stablecoin that tracks the value of the Euro, backed by overcollateralized crypto positions.
dEURO supply history
dEURO supply fell 18.4% over the past 30 days, to $1.5M. Its peak was $1.8M in July 2026, and supply is 17% below that high.
Is dEURO holding its peg?
There is no live market price for dEURO. It is not actively traded on any exchange or DEX we can see, which is common for bank-issued and permissioned stablecoins that are only minted and redeemed directly with the issuer.
Where dEURO lives: supply by blockchain
Supply is concentrated: Ethereum holds 99% of all dEURO. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How dEURO is backed
dEURO is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: dEURO is minted when users deposit supported crypto collateral (e.g., BTC or ETH) into the protocol's smart contracts and generate new tokens against it based on required overcollateralization ratios, with automated liquidations keeping the system solvent if collateral values fall; it is redeemed by repaying the position to reclaim the underlying collateral.
dEURO risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
With $1.5M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
dEURO vs USDT and USDC
Similar crypto-backed stablecoins
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dEURO FAQ
What is dEURO?
Decentralized Euro (dEURO) is a crypto-backed euro stablecoin. It has about $1.5M in circulation, ranking #198 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
What backs dEURO?
dEURO is a crypto-backed stablecoin. dEURO is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is dEURO on?
dEURO is live on 5 blockchains. The largest by supply are Ethereum ($1.3M), Polygon ($6K), Arbitrum ($4K).
How much dEURO is in circulation?
About $1.5M of dEURO was in circulation at the last update, -18.4% over 30 days. That makes it the #198 stablecoin by supply among those we track.
Is dEURO safe?
No stablecoin is risk-free. As a crypto-backed design, dEURO's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. Its supply is small, so liquidity can be thin. It currently shows "no market price" on our peg monitor. This page is information, not investment advice.