CDS Crypto News USDC Issuer Circle’s EUROC Now on Avalanche Network
Crypto News

USDC Issuer Circle’s EUROC Now on Avalanche Network

The USDC issuer Circle has released its EUROC stablecoin on the Avalanche Network.

848
Usdc Issuer Circle'S Euroc Now On Avalanche Network

The Avalanche Network now supports Circle‘s Euro Coin (EUROC) stablecoin.

USDC Issuer Circle’s EUROC Now on Avalanche Network

On May 25, Circle announced in a tweet that their EUROC stablecoin had gone multi-chain and was now accessible to developers on top of Avalanche. The issuer further stated that several well-known ecosystem apps, such as Shift Markets, Pangolin, Curve Finance, GMX, and Platypus, already support Euro Coin. The following is how Circle described the EUROC stablecoin:

“EuroCoin is an always-on stablecoin that expands access to the euro across the globe. With USDC and EuroCoin now both on Avalanche, users can experience new possibilities for multi-currency digital finance and 24/7 near-instant FX.”

About EUROC Stablecoin

The introduction of the Euro Coin to Avalanche, in Circle’s opinion, will not only increase the liquidity of the Euro but also give global users the option to engage in euro transactions using the Euro Coin. Circle’s latest development represents progress. To successfully compete with established stablecoins like Tether, the business has worked assiduously.

When was EUROC Launched?

The Euro Coin was initially introduced by Circle in June 2022. The same laws that govern USDC also apply to the issuance of Euro Coin.

Circle CEO Jeremy Allaire stated in the first announcement that the stablecoin would increase prospects for payments, trade finance, commerce, and more. In his words, it was “symbolic of a shift in crypto markets towards greater and greater utility value from blockchain infrastructure.”

Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...