EURC

The Euro Coin (EURC) is a stablecoin issued by Circle Internet Financial, a global internet finance company also responsible for USD Coin (USDC). The EURC is designed to maintain a 1:1 peg to the euro and is fully backed by euro reserves held in regulated financial institutions within the European Economic Area (EEA). It is accessible on multiple blockchain networks, including Avalanche, Base, Ethereum, Solana, and Stellar. The coin aims to provide stability and transparency, with monthly attestations confirming its reserves.

The EURC is used to facilitate fast, efficient, and low-cost cross-border payments denominated in euros. It is widely employed in decentralised finance (DeFi) applications for purposes such as foreign exchange (FX) trading, borrowing, and lending. By combining EURC with USDC, users gain access to 24/7 FX markets, enabling instant settlement of transactions with capital efficiency. Additionally, the EURC provides businesses with the ability to offer euro-denominated financial services globally and to store value in a stable currency.

The Euro Coin (EURC) was created by Circle Internet Financial, the same company behind USD Coin (USDC). Circle is a prominent provider of internet-based financial services, focusing on blockchain-powered payments and infrastructure. The EURC was launched on 30 June 2022, following the same full-reserve model as USDC. This ensures that each EURC token is backed 1:1 by euros held in euro-denominated bank accounts, establishing a foundation of trust and stability for the coin.