Euro-Centric Stablecoin Expected To Launch By Circle

Circle Internet Financial, expected to launch with a new euro-backed stablecoin, announces the company behind the USD Coin (USDC).

Euro Coin (EUROC) will launch beginning June 30, according to the statement on the morning of June 16.

The statement described the coin as a regulated, euro-backed stablecoin issued using the same full-reverse system. It is based on the same principles of security, trust, and transparency that made USDC one of the most trusted digital currencies in the world. 

Per the company’s statement, with support for additional blockchains expected later this year, EUROC would initially be launched as an ERC-20 token on the Ethereum blockchain. 

Bitstamp, Huobi, FTX, BinanceUS, and Uniswap, among other platforms such as Fireblocks, Compound, Curve, and Anchorage, will be supporting the new stablecoin, according to Circle.