- This is the second network for Euro Stablecoin
- The coin is being integrated by several top applications on Avalanche
Circle has released a version of Euro Coin Stablecoin (EUROC) on the Avalanche network.
This is the second blockchain for the asset. Last summer they introduced EUROC on the Ethereum network.
This indicates a growing demand for euro-stablecoin. Especially in anticipation of the launch of the MiCa law in the European Union.
It’s important that Circle recently launched a crosschain protocol for transferring USDC stabelcoin between the Ethereum and Avalanche networks. It may soon support Euro Coin as well.
A few applications on the Avalanche network have already announced the integration of the new coin.
Among them are the projects. Benqi, Curve, Dexalot, GMX, Pangolin, Shift Markets and Trader Joe.
This is a comment from Circle Vice President of Products Joao Reginatto:
“Last year we launched Euro Coin on Ethereum to make the euro available, regardless of borders or time zones.
It’s available to anyone with an internet connection.
With the launch of Avalanche, we’re giving developers and users the ability to make almost instant and more cost-effective transactions, opening up new possibilities for payments and money transfers 24/7.”
Remind that Circle’s flagship product is the USDC, a stableneck tied to the dollar rate. It is now the industry’s second-largest stabelcoin with a market capitalization of $54.5 billion.