Circle has chosen to utilize the Solana blockchain due to its development team’s ability to create a cost-effective and efficient platform that supports a wide range of ecosystem applications.
By launching EURC on Solana, blockchain users will have the seamless ability to use this asset for various financial transactions in compliance with MiCA requirements.
“The availability of EURC on Solana offers new opportunities for instant currency exchange, provides traders with a new base currency option, and enables EURC lending and borrowing as a payment currency in Solana Pay,” expressed Circle.
Circle views the launch of EURC as a strategic goal to establish a prominent position within the European Union and enhance the utility of the European peer-to-peer money transfer corridor.
Moody’s, the rating agency, recently announced the introduction of their Digital Asset Monitor (DAM) tool, which incorporates artificial intelligence elements to monitor risks associated with the financial activities of stablecoins.