USD Coin (USDC) Issuer Circle Announces Launch of New Euro-Pegged Stablecoin

USD Coin (USDC) Issuer Circle Announces Launch of New Euro-Pegged Stablecoin


USD Coin (USDC) issuer Circle is revealing the launch of a new Euro-pegged stablecoin at the end of the month.

In a new company blog post, Circle announced Euro Coin (EUROC) will launch on June 30th on the leading smart contract platform Ethereum (ETH).

Circle says the EUROC stablecoin will be 100% backed by Euros held in Euro-denominated bank accounts to ensure EUROC is always redeemable 1:1.

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According to Circle, the goal of the new stablecoin is to help Europeans move their funds into blockchains at a faster rate.

“We developed Euro Coin with the goal of increasing access to opportunities to trade, earn, pay and build on a stable euro digital currency. As of June 16, 2022, the total circulation of all Euro-denominated stablecoins

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