Circle Online Financial, or simply Circle, is a reputable American financial company. She is the creator of USDC stablecoin which has roughly a capitalization of $54.6 billion.
Circle launches Euro Coin (EUROC) after the success of USDC. EUROC will be available from June 30, 2022.
The new currency will initially launch on the Ethereum network. Soon after, support for other blockchains will be implemented. It is an Ethereum ERC-20 standard token that can be used with ERC-20 compliant blockchain wallets, protocols and services.
Binance, FTX, Huobi Global, Anchorage Digital, Bitstamp, Compound, Curve, Fireblocks, Ledger, MetaMask, and Uniswap are some of the platforms that will list EUROC.
Regulated stablecoin already benefiting from the success of USDC
According Circlethe Euro Coin is a regulated, Euro-backed stablecoin, produced under the same integral reserve model and based on the same pillars of trust, transparency and security that have helped USDC become one of the digital currencies the most reliable in the world.
The introduction of the Euro Coin intends to build on the success of Circle to enable a seamless exchange of financial assets and bridge the gap between crypto and conventional financial services.
Businesses can use EUROC tokens to transfer euro cash on the blockchain. They can also receive and send euro payments worldwide, which Circle says can be done in minutes. Users can also access crypto capital markets for trading, borrowing and lending, etc.
Read also How to choose the right stablecoin – Tether (USDT), USD Coin (USDC), Binance (USD) or TerraUSD (UST)?
The main advantage for individuals is to be able to convert your fiat euros into digital currencies and do without USDC to access DeFi.