Skip to main content

Circle launches new Euro Coin stablecoin

 


Circle Internet Financial is an international and internet-based financial company and the issuer of the USD Coin (USDC). Circle Internet Financial is preparing to issue a fully backed and euro -pegged stablecoin . The coin will be called Euro Coin (EUROC) and will be available to anyone interested from June 30th.


Initially, the new euro coin will appear on the Ethereum blockchain, with support on other blockchains to follow soon. It is an Ethereum ERC-20 standard token that will be compatible with ERC-20 compatible wallets, protocols and blockchain services.


Several ecosystems will support the new coin. These include Binance.US, FTX, Huobi Global, Anchorage Digital, Bitstamp, Compound, Curve , Fireblocks, Ledger, MetaMask Institutional, and Uniswap , among others .


Circle claims, “Euro Coin is a regulated, euro-backed stablecoin, issued under the same full-reserve model and built on the same pillars of trust, transparency, and security that have made USDC one of the most trusted digital currencies in the world have made. The launch of the Euro Coin continues Circle's successful work in promoting the smooth exchange of financial assets and creating a bridge between cryptonative and traditional financial services."


Businesses can use EUROC tokens to move euro liquidity on-chain. In addition, companies can accept and make euro payments worldwide. According to Circle, transactions can be processed within minutes. Circle also explained that the new stablecoin will allow users to access crypto capital markets and trade, borrow and lend the new coin.


According to Circle, the coin is “ fully backed by euro reserves held conservatively by leading financial institutions within the US regulatory perimeter, starting with Silvergate Bank .”

Circle issues second digital currency

Jeremy Allaire is the CEO of Circle. He said, “Circle has set industry-leading standards for the transmission of financial assets over the Internet with USDC. There is a clear market demand for a digital currency based on the euro, the second most traded currency in the world after the US dollar. With USDC and the Euro Coin, Circle is helping to bring about a new era of fast, low-cost, secure, interoperable and international exchange of value.”


The new stablecoin is Circle's second digital currency. The first, USDC, had over $54 billion in circulation as of June 15 of this year. According to Circle, the new coin and USDC are designed to enable low-cost transactions for global businesses. The coins will “ open new opportunities for multi-currency digital finance and on-chain forex trading, with daily volume in traditional markets globally capable of exceeding $6.6 trillion .”


The new euro stablecoin can be purchased with a Circle account from June 30, 2022. However, developers can already work with the Euro Coin Smart Contract today.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more