Circle's EURC, a euro-backed stablecoin, is now live on the Base mainnet.
EURC is supported by Aerodrome, Coinbase, Coinbase Wallet, and Uniswap Labs.
EURC's launch follows the success of USDC on Base, which holds a 97% market share.
Circle has announced the launch of EURC on Base mainnet. This marks a significant milestone in integration of euro-backed stablecoins into the global financial system. This development will open new avenues for developers and users.
https://twitter.com/coinbase/status/1819014623099519119 Key Features and Support
The stablecoin is designed to bring trust and compliance to businesses and developers and will facilitate global commerce on the Base network. Circle Mint and its APIs will support minting and redeeming of EURC on Base. This provides financial institutions with seamless access to this stablecoin.
Leading partners such as Aerodrome Coinbase, Coinbase Wallet and Uniswap Labs are supporting EURC launch on Base. This collaboration underscores commitment to integrating EURC into various financial and trading platforms.
Broader Implications and Use Cases
The launch of EURC on Base follows the successful introduction of USDC on the same network last year. USDC has become the largest stablecoin on Base with nearly $3 billion in circulation and 97% market share among stablecoins.
Developers, fintech companies, exchanges and traders can leverage EURC on Base for a variety of use cases worldwide. These include foreign exchange trading, borrowing, lending and other decentralized finance (DeFi) applications. The ability to convert fiat currency to EURC or USDC on Base through Circle Mint accounts further enhances flexibility and utility of these stablecoins.
The Introduction of EURC on Base represents a significant advancement in integration of euro-backed stablecoins into the global financial system. With strong support from leading partners and a variety of use cases, EURC is poised to enhance efficiency and reach of euro-denominated transactions.
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The post Circle Launches EURC on Base Mainnet, Expanding Euro-Backed Stablecoin Reach appeared first on Crypto News Land.