One of the largest stablecoins in the cryptocurrency market, USDC issuer Circle announced in June the launch of a new Euro-backed stablecoin.
Stating that the stablecoin named Euro Coin (EUROC) will be released on the Ethereum (ETH) network, Circle said that it will be available for sale from June 30, 2022.
Circle has now announced that it has launched the euro-backed Euro Coin on its Avalanche (AVAX) network.
In this context, Avalanche became the second blockchain network to support Euro Coin after Ethereum.
Stating that the Euro Coin integration will be a very easy integration for the Avalanche network, which currently supports USDC, Circle announced that some decentralized finance applications on the Avalanche network, including Benqi, Curve, Dexalot, GMX, Pangolin, Shift Markets and Trader Joe, will integrate Euro Coin. He said he was waiting.
Joao Reginatto, Vice President of Product at Circle, said:
“We launched it on Ethereum last year with the vision of making Euro Coin accessible across borders and time zones to anyone with an internet connection.
With the launch of Euro Coin on the Avalanche network after Ethereum, we are opening up new possibilities for payments and remittances, enabling developers and users to experience more cost-effective transactions almost instantly.”
