- This is the second network for the euro stablecoin
- The coin is integrated by several top applications on Avalanche
Circle Company released version of the Euro Coin (EUROC) stablecoin on the Avalanche network.
This is the second blockchain for this asset. They introduced EUROC to the Ethereum network last summer. This indicates a growing demand for the euro-stablecoin. Especially in anticipation of the launch of the MiCa law in the European Union.
Significantly, Circle recently launched a cross-chain protocol for transferring the USDC stablecoin between the Ethereum and Avalanche networks. Perhaps soon it will support Euro Coin.
The integration of the new coin has already been announced by several applications on the Avalanche network. Among them are projects. Benqi, Curve, Dexalot, GMX, Pangolin, Shift Markets and Trader Joe.
Here is a comment from Circle VP of Products Joao Reginatto:
“Last year we launched Euro Coin on Ethereum to make the euro accessible across borders and time zones. It has become available to anyone with an internet connection.
With the launch of Avalanche, we are empowering developers and users to make near-instant and more cost-effective transactions, opening up new opportunities for payments and money transfers 24/7.”
Recall that Circle’s flagship product is USDC, a stablecoin pegged to the dollar. It is now the second largest stablecoin in the industry with a market capitalization of $54.5 billion.