Stablecoin

USDA

EURC

Base

USDC

The <a href="https://coingape.com/glossary/stable-coins/" target="_blank" rel="noopener noreferrer nofollow">stablecoin</a> giant Circle has once again made global headlines by revealing plans to introduce EURC, its first euro-backed stablecoin, to Base, an L2 (layer 2). This mover comes as an effort to jack up developers in delivering faster and cheaper commerce with a euro-backed digital currency for global users.
Notably, EURC now joins USDC, the largest stablecoin on the Base network that boasts a $3 billion circulation as of July 9. Base is a layer two blockchain brought by Coinbase to enhance Ethereum’s scalability and speed.
<h2 id="base-welcomes-eurc">Base Welcomes EURC</h2>
In compliance with the new MiCA (Markets in Crypto Assets) regulation, <a rel="noopener noreferrer nofollow" href="https://www.circle.com/blog/eurc-is-coming-to-base" target="_blank">Circle</a> becomes the first global stablecoin issuer to bring EURC and USDC to Base. The introduction of EURC primarily brings the trust and compliance needed for a euro equivalent on-chain. Concerning this, Circle appears to have made monumental strides with the introduction of USDC last year and now EURC.
The introduction of the abovementioned stablecoins on Base brings a plethora of benefits. These include regulated, fully reserved, and redeemable 1:1 coins for euros and dollars, respectively. Further, the integration enables institutional on/off-ramps like Circle Mint for qualified businesses.
Simultaneously, the stablecoin amalgamation also offers retail access to Coinbase’s global on and off-ramp network. Moreover, t use cases include cross-border payments with near-instant settlements for international remittances, peer-to-peer payments, and marketplace payouts at a minimal cost, among many others.
Also Read: <a href="https://coingape.com/worldcoin-layer-2-world-chain-announces-developer-preview/" target="_blank" rel="noopener noreferrer nofollow">Worldcoin Layer 2 World Chain Announces Developer Preview</a>
<h2 id="circle-s-recent-advancements">Circle’s Recent Advancements</h2>
Meanwhile, the stablecoin giant made monumental strides recently, encompassing the bagging of an E-money License for USDC and EURC under <a href="https://coingape.com/circle-bags-micas-e-money-license-for-usdc-and-eurc/" target="_blank" rel="noopener noreferrer nofollow">MiCA regulations</a>, as mentioned above.
In the interim, Circle also called out on U.S. authorities to pass seamless <a href="https://coingape.com/circle-rolls-out-new-ad-calling-on-common-sense-us-stablecoin-regulation/" target="_blank" rel="noopener noreferrer nofollow">stablecoin regulations</a> for innovation and investor protection. These chronicles collectively underscore Circle’s unwavering stance toward being a stablecoin pioneer.
The excitement surrounding the EURC launch also reverberated across the broader market as Jeremy Allaire, Circle’s co-founder, took to a post on X spotlighting the integration.
Also Read: <a href="https://coingape.com/cardano-usda-set-to-launch-amid-global-stablecoin-push/" target="_blank" rel="noopener noreferrer nofollow">Cardano’s USDA Set To Launch Amid Global Stablecoin Push</a>
The post <a href="https://coingape.com/circle-brings-eurc-to-base-boosting-stablecoin-adoption/" rel="noopener noreferrer nofollow">Circle Brings EURC To Base Boosting Stablecoin Adoption</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Circle Brings EURC To Base Boosting Stablecoin Adoption

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Coingape News Media

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