Circle launches Euro Coin (EUROC) in Ethereum, new Euro-Pegged Stablecoin

Circle launches Euro Coin (EUROC) in Ethereum, new Euro-Pegged Stablecoin

Thursday (16.6.) Jeremy Allairefounder, chairman and CEO Circle Internet Financialannounced that his company will presentAnother large fiat background stable coin“, and that it had launched it on the main network of Ethereum.

Euro coin (EUROC) is issued by Circle according to the same full reserve model as USD Coin (USDC)a trusted digital dollar currency with more than $ 54 billion in circulation.

Circles says $ EUROC can be useful for stock exchanges, institutional traders, businesses and individuals.

Circle’s $ EUROC product page also mentions that Euro Coin “will be officially launched on June 30 with the support of several ecosystem leaders”. These include cryptographic exchanges such as Binance.US, Bitstamp and FTX, DeFi startup companies such as Compound, Curve and Uniswap, cryptographic repositories such as Achorage Digital, and cryptographic wallet vendors such as Ledger and MetaMask.

His Twitter threadThe CEO of Circle mentioned that:

  • Like the USDC, the Euro Coin is issued in accordance with a regulated money transfer framework, in accordance with the same rules that govern the USDC, with full euro-denominated funds, the same security, liquidity and transparency that the market is accustomed to expect from the Circle.
  • Euro Coin expands the range of applications in the markets for payments, intra-chain currency, trade finance, trade and the wider digital assets market. The launch symbolizes the shift in the cryptocurrency market towards ever-increasing value from blockchain infrastructure.
  • Euro Coin will be available to institutional customers through a free Circle account from June 30, 2022. Developers can begin integration into the Euro Coin Intelligence Agreement today, before its official release.

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h/t – CryptoGlobe

Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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