USDC Issuer Circle is launching Euro Coin (EUROC), a new Euro-backed stablecoin

2022-6-17 20:00

Circle, the issuer behind the USD Coin (USDC) stablecoin, will launch a new stablecoin that is backed by the Euro by the end of this month. Euro Coin (EUROC) will be issued under the same full-reserve model as USDC according to the announcement.

The Euro-backed stablecoin will be made available for exchanges, institutional traders, businesses, and individuals. Like USDC, users can convert Euros directly into EUROC and vice-versa, it will also be available on exchanges as a trading pair for other cryptocurrencies.

The introduction comes at a time when there has been significant speculation and a lack of confidence among users of stablecoins. These concerns have come after the collapse of the TerraUSD (USTC) stablecoin and concerns around Tether (USDT) temporarily dropping below a dollar.

Whilst EUROC will be entirely backed by reserves like USDC, the Euro-pegged stablecoin’s reserves will be backed 100% by Euros.

This seems to be the major difference between EUROC and USDC which is backed by cash and short-term U.S. government bonds as collateral.

As a result, a reserve in Euros will be held in custody at financial institutions subject to US regulatory oversight for each EUROC token that is in use. Silvergate Bank will serve as the initial custodian for the EUROC stablecoin. Additional custodians will include Anchorage Digital, CYBAVO, and Fireblocks.

Euro Coin will initially be launched as ERC-20 token on the Ethereum network and later this year, further blockchain support will be enabled.

EUROC joins a small group of stablecoins backed by the euro, such as EURt from Tether and Stasis Euro (EURS) from Malta-based Stasis. 

Binance.US, MetaMask, and Ledger are among the companies that will support the launch. It will initially only be accessible through the Silvergate network. However, users may trade and withdraw EUROC once it is published on exchanges.

The post USDC Issuer Circle is launching Euro Coin (EUROC), a new Euro-backed stablecoin appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

USDx stablecoin (USDX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 1.62 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.9389 (-100%)

stablecoin usdc new coin euro issuer circle

Источник: cryptoslate.com

stablecoin usdc → Результатов: 126


Bitfinex announces three new stablecoin pairs pegged to USDT

On August 27, 2019, the controversy-riddled digital exchange, Bitfinex, announced that it had added support for three new stablecoin trading pairs. The same was announced by the exchange’s Twitter handle which read, Three new stablecoin pairs are now available on Bitfinex! Trading on USD Coin to Tether (USDc/USDt), Paxos Standard to Tether (PAX/USDt) and TrueUSD […] The post Bitfinex announces three new stablecoin pairs pegged to USDT appeared first on AMBCrypto.

2019-8-28 02:30


Dukascopy’s Dukascash Stablecoin Adds Five Pegged Fiat Currencies; CNY+, GBP+, JPY+, MXN+, RUB+

Ever since Tether (USDT) launched its stablecoin and achieved some success in pegging its value to fiat currency, several companies are trying to take its place. True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX) and other names easily come to mind when we talk about this. Now, a new company is trying to get […]

2019-7-4 00:08


USDC is now the largest stablecoin by market cap after Tether, claims Skew Markets analysis

Some proponents in the cryptocurrency market have stated that 2019 will be the year of stablecoins, this speculation evidenced by the number of recent updates and developments in the space. In a recent analysis by Skew Markets, it was shown that all the top stablecoins, including Tether, had seen significant increases in market caps over […] The post USDC is now the largest stablecoin by market cap after Tether, claims Skew Markets analysis appeared first on AMBCrypto.

2019-6-19 01:30


Фото:

Coinbase Commerce Adds Support for Circle’s USD Coin (USDC)

U. S. -based Cryptocurrency exchange Coinbase on May 20, 2019, announced that its merchant-oriented service Coinbase Commerce now accepts U. S. dollar-pegged stablecoin USD Coin (USDC). Coinbase Commerce Adds Support for USDC In a bid to foster the adoption of digital currencies among merchants and business owners, Coinbase Commerce has integrated Circle’s stablecoin USDC.

2019-5-21 20:00


Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments

Coinbase, one of the largest cryptocurrency exchange platforms in the U.S. in terms of users, announced that USD Coin could be used a mode of payment by businesses using Coinbase Commerce. The announcement was made on 20 May 2019 through their official Medium blog and stated that, “accepting” the stablecoin “gives our merchants many benefits […] The post Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments appeared first on AMBCrypto.

2019-5-21 15:15


Фото:

Coinbase позволила онлайн-магазинам принимать стейблкоин USDC

Команда биржи цифровых активов Coinbase объявила о добавлении стейблкоина USD Coin в сервис Coinbase Commerce. Соответствующее объявление появилось в блоге проекта. Starting today, businesses using Coinbase Commerce can now accept payments in USD Coin (USDC), a US dollar-backed stablecoin.

2019-5-21 09:10


Coinbase’s Brian Armstrong gets called out for shilling USDC coin after Bitfinex/Tether episode

The significance of stablecoins has been a hotly debated topic in the crypto community, splitting the opinions of major crypto-proponents across the board. The recent Tether/Bitfinex episode raised many questions about Tether’s status as a dependable stablecoin, since the virtual asset lost its 1:1 pegged valuation against the US Dollar, for a while.

2019-5-2 11:55


Crypto Giant Coinbase Launches Cross-Border Payments with XRP and USDC

Crypto exchange Coinbase is now offering cross-border payments service to enable customers to transfer funds using Ripple (XRP) and the stablecoin USDCoin (USDC). Coinbase made the announcement on its website, touting the service as fast and convenient: “You can now send money to any user with a Coinbase account around the world using XRP or USDC.

2019-4-2 16:43


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Kraken considers delisting USDT in Europe due to MiCA rules

Kraken could drop EU support for Tether’s USDT stablecoin, Bloomberg reported on May 17. Kraken Global Head of Regulatory Strategy Marcus Hughes said the company is planning for circumstances in which it is “not tenable to list specific tokens such as USDT.

Stablecoins see reduced activity amidst market uncertainty: What now?

The stablecoins activity has taken a hit in recent weeks. The dominance chart reflected reluctance from market participants to buy assets. Bitcoin [BTC] was under pressure in the lower timefThe post Stablecoins see reduced activity amidst market uncertainty: What now? appeared first on AMBCrypto.

Ripple CEO Brad Garlinghouse defends Tether stance: What did he say?

Garlinghouse criticizes the SEC and the U.S. government regarding Tether. Tether maintained dominance despite controversies, indicating resilience. In a recent development, Ripple [XRP] CEO The post Ripple CEO Brad Garlinghouse defends Tether stance: What did he say? appeared first on AMBCrypto.

USDC surpasses Tether USDT - A sign of stablecoins' future?

USDC surpasses USDT, indicating a shift in stablecoin market dynamics. Leaders stress aligning stablecoins with democratic values and transparent regulations. In a surprising development, CiThe post USDC surpasses Tether USDT - A sign of stablecoins' future? appeared first on AMBCrypto.