Circle announced that Euro Coin, a stable cryptocurrency backed in euros at a 1-to-1 ratio, will be available as of June 30.
This fiat currency-backed model has also been established in other projects, such as USD Coin, stablecoins promoted by the Circle platform and based on the US dollar.
1/ Get ready for #EuroCoin!
Euro Coin (EUROC) is our newest #stablecoin that will launch on June 30th.
We designed it with the same full-reserve model as #USDC so that it’s always redeemable 1:1 for euros. See how to get it https://t.co/3PclycHxPk
— Circle (@circlepay) June 16, 2022
What is Circle?
Circle is a structured platform for digital economy and treasury, enabling businesses worldwide to accept and send digital payments.
Circle’s concept is based on the movement of traditional money through a scalable, secure and efficient model via the blockchain.
Circle has several major commercial partners such as Visa, Mastercard and Plaid, who support the payment infrastructure and thus reach more customers.
Advantages offered by Euro Coin
- Inclusive: it will be available to everyone who has internet access and wishes to invest.
- Easy to exchange: it allows your customers to exchange Euros to Euro Coin and have almost immediate access to digital trading pairs.
- Ideal for companies and businesses: it can be used as a means of payment and expand your customer base worldwide.
- Individual use: thanks to the versatility of trading, it is transferable to family and friends regardless of borders.
How to participate in the Euro Coin minting?
After the launch next week, the Euro Coin can be purchased by depositing directly into the Cicle account via Silvergate’s Euro SEN network. Subsequently, the EUROC is available to users who do not have Cicle accounts through tertiary trading, digital asset exchange or DeFi protocols.
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