Circle is working on Euro stablecoin

Circle is working on a euro stablecoin. The technology company announced this in a press release .

The "Euro Coin", EUROC for short, should be covered one to one by euros deposited in bank accounts.

On June 30th, the stablecoin will be launched on various platforms such as Binance , FTX and Uniswap.

It remains to be seen whether the EUROC will become a similar big seller as the USDC.

Euro stablecoins seem to be less used. Tether's euro copy has a market cap of just $217 million. Peanuts compared to just under $70 billion at flagship USDT.

Aside from the euro stablecoin, Circle made headlines in February when the tech provider doubled its company valuation .

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