Circle Launches Euro Coin (EUROC) on Avalanche

CryptocurrencyNews
··1 min read

Leading stablecoin issuer Circle has announced the introduction of its Euro Coin (EUROC) stablecoin on the Avalanche network. Avalanche has been one of the fastest-growing layer-one blockchains, with over 8 million active wallet addresses.

According to Circle, the integration of EUROC on Avalanche will be seamless for existing applications that already support the USDC stablecoin. This development signifies a rising need for a diverse range of stablecoins across multiple blockchains.

Joao Reginatto, the VP of Product at Circle, emphasized the company’s vision of making the euro accessible across borders and time zones through the launch of Euro Coin on Ethereum last year. He further stated that the integration with Avalanche enables developers and users to experience near-instant, cost-effective transactions, unlocking new opportunities for payments, remittances, and round-the-clock foreign exchange (FX).

Users with Circle Accounts can now leverage the liquidity of Euro Coin on the Avalanche network for various purposes, including cryptocurrency trading, lending, custody, and facilitating payments.

Patrick Hansen, Circle’s EU Director of Strategy and Policy, said that the launch of EUROC on Avalanche will be “the first in a series of expected multi-chain launches”.

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