USD Coin (USDC) issuer Circle has announced its new euro-backed stablecoin.
Circle, which has launched the second largest stablecoin, the USD Coin (USDC), released an announcement on its new stablecoin product on Thursday. The company has announced the euro-backed Euro Coin (EUROC), which will be available from June 30. The announcement described the new product as “a regulated, euro-backed stablecoin issued under the same full reserve model and built on the same pillars of trust, transparency and security that have made USDC one of the most trusted digital currencies in the world.”
The stablecoin, which will initially be issued as an ERC-20 token on Ethereum, will be supported by leading cryptoasset crypto trading platforms such as FTX, Bitstamp, BinanceUS, Huobi and Uniswap. Anchorage, Compound, Curve, and Fireblocks will also support the launch of the stablecoin.
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