EUROC Stablecoin: USDC Issuer Circle To launch Euro stablecoin On June 30


EUROC Stablecoin: USDC Issuer Circle To launch Euro stablecoin On June 30

Circle, the company behind the USDC, will introduce EUROC, its second stablecoin, later this month.

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The EUROC stablecoin, also known as the Euro Coin, was announced by USDC issuer Circle as a new cryptocurrency meant to be linked to the value of a Euro.

Stablecoins have been the buzz of the town recently. 2022 has clearly shown how stablecoins function in the long run, whether it's in relation to the recent Luna crypto crisis, the newest USDD depeg, or talk of a USDT depeg.

The recent decline of stablecoins, on the other hand, appears to have had little effect on companies' willingness to explore further in the space. The following is a list of everything we know about the EUROC Stablecoin.

What Is The EUROC Stablecoin?

A circle is preparing to debut EUROC, or the Euro Coin, a new stablecoin on the market.

The new stablecoin, which is not to be confused with the E-Euro, is described by Circle as a "totally reserved, euro pegged stablecoin from the United States."

EUROC is an Ethereum-based ERC-20 token that may be used with most ERC-20-compatible wallets and services.

The new EUROC stablecoin will be created using the same mechanism as USDC and will have "the same pillars of openness and trust" that USDC has developed over time, according to Circle.

Circle hopes to further its mission of promoting a "frictionless exchange of financial value" with the launch of Euro Coin.

While describing its use cases, Circle mentioned that EUROC may be used by a variety of organizations to shift euro liquidity on-chain as well as make immediate worldwide payments in Euros.

Release Date of the EUROC Stablecoin

On June 30, 2022, Euro Coin (EUROC) will be introduced on the Ethereum network.

Following its first debut on Ethereum, Circle announced that EUROC will be supported by more blockchains before the end of the year.

Starting with the July 2022 report, which will be released in August 2022, Circle will offer monthly attestations of EUROC's reserves.

Where Can I Purchase EUROC Stablecoin?

Only a Circle Account and the US bank Silvergate will be able to purchase the first Euro Coin mint.

Circle claims that following this mint, exchange-based trade will take place.

Euro Coins will be available for purchase on many crypto exchanges shortly after their introduction. The following exchanges will be offering EUROC:

  - Bitstamp

  - Binance.US

  - Huobi Global

  - FTX 

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