Stablecoin

EURC

Base

USDC

Coin

Circle, a stablecoin issuer, has officially launched its euro-backed stablecoin, EURC, on Coinbase’s layer-2 network, Base. 
This strategic expansion is notable as EURC becomes the first euro-backed stablecoin on this platform, complementing the already popular USD Coin (USDC). With EURC and USDC, Circle aims to enhance global financial transactions by providing stable, blockchain-based alternatives to traditional currencies. 
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 2/ <a href="https://twitter.com/search?q=%24EURC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$EURC</a> on <a href="https://twitter.com/base?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@base</a> EURC, issued by Circle, brings the trust and compliance needed for a euro equivalent on-chain. We launched <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$USDC</a> on Base last year, and is already the largest stablecoin on Base with more than $3 billion in circulation as of July 9th.— Circle (@circle) <a href="https://twitter.com/circle/status/1810639676224807359?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 9, 2024</a>
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EURC and USDC are now the first stablecoins on Base from a global issuer to comply with the implemented Markets in Crypto Assets (MiCA) regulation. This development is important as it places Circle in a better stand in a market trending to be more defined by compliance. 
Using specific stablecoins like EURC to comply with MiCA regulations can change the digital financial landscape in Europe, offering a secure and legal method for trading and investing. 
Circle’s <a href="https://www.circle.com/blog/eurc-is-coming-to-base" target="_blank" data-type="link" data-id="https://www.circle.com/blog/eurc-is-coming-to-base" rel="noreferrer noopener nofollow">introduction of EURC</a> on Base is also a technical advancement, marking the first time EURC is available natively on an Ethereum layer-2 network making it cheaper to integrate into e-commerce platforms. Moreover, EURC and USDC facilitate perfect institutional on and off-ramps through Circle Mint and so these tokens are fully interwoven into the global financial network. 
While EURC is a new entrant on Base, it is yet to be listed on major decentralized exchanges on the network, indicating a phase of early adoption. However, the presence of platforms like PancakeSwap, which offers the token through its import feature, suggests a growing market readiness to embrace regulated stablecoins. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/03/circle-advocates-for-clear-stablecoin-rules-in-u-s/" target="_blank" rel="noreferrer noopener">Circle Advocates for Clear Stablecoin Rules in the U.S.</a> 
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Circle Launches Euro-Backed EURC Stablecoin on Base

The Crypto Times

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