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.”