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

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne
Post a Comment
Read more