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The stablecoin sector in Europe has moved past the “will it work?” phase. The question now is who has the right people to actually build what comes next, and most companies don’t have a clear answer.
This report, produced by PCN and StableCon, maps the workforce across 15 leading stablecoin-active companies in EMEA, covering Issuers, Payments & Distribution, and Infrastructure & Custody. It looks at where headcount is growing (and shrinking), what functions are being prioritised, which skills are in short supply, and what open job signals tell us about where the market is heading.
Some of what the data shows is surprising. Issuers are growing at 44% year-on-year, faster than any other segment, yet carry the lowest compliance headcount of all three, at a moment when MiCA enforcement is accelerating. Payments players need 29 times more staff to operate than Issuers but are hiring engineers, not compliance. And across every segment, Product Management is the fastest-rising function, a signal of where competitive advantage will actually be built by 2028.
If you’re hiring in this space, advising companies in it, or trying to understand where the talent gaps are before they cost you, this is the data that’s been missing.
