Circle launches Euro Coin stablecoin

Friday 17 June 2022 15:00 CET | News

USDC stablecoin issuer Circle, has launched a new fiat-backed digital asset called Euro Coin (EUROC).

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.

Euro Coin will have the same security, liquidity and transparency as USDC. Most recently, USDC was launched on Polygon, an interoperability and scaling framework for building Ethereum-compatible blockchains.

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Keywords: stablecoin, blockchain, digital assets, crypto
Categories: DeFi & Crypto & Web3
Companies: Circle
Countries: Europe
This article is part of category

DeFi & Crypto & Web3


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