The new Euro Coin will initially launch on the Ethereum blockchain as an ERC-20 token on 30 June 2022, with more supported networks to follow later in the year.
Circle states in an accompanying press release that Euro Coin is fully backed by euro-denominated reserves held in the custody of financial institutions within the US regulatory perimeter. The coin is being issued under a regulated framework for money transmission, under the same statutes that regulate USDC, with full-reserves in EUR.
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