Key Takeaways:
- Circle’s euro-backed stablecoin, EURC, launched on the Base network on July 9.
- EURC on Base is compliant with MiCA regulations, aimed at simplifying global trade for e-commerce.
- Trading EURC on decentralized exchanges may require patience, as not all platforms have listed the coin yet.
Circle has launched its euro-backed stablecoin, EURC, on the Base network, as of July 9.
This expands EURC’s native issuance to Base, an Ethereum layer-2 network, alongside its existing presence on Avalanche, Ethereum, Solana, and Stellar.
1/ 🥁 … $EURC is coming to @base!
— Circle (@circle) July 9, 2024
We’re excited to bring EURC to Base, its first euro-backed stablecoin, enabling developers to deliver faster and cheaper commerce with a euro-backed digital currency for global users.
Explore what EURC will mean for Base.… pic.twitter.com/6THP9r7KJ1
Previously, layer-2 networks could only use derivative forms of EURC.
Circle’s announcement highlights that this new version will simplify global trade facilitation for e-commerce applications.
The Base versions of EURC and USDC are described as the first compliant with the new Markets in Crypto Assets (MiCA) regulation from a global issuer.
$EURC is coming to @base https://t.co/fhiy6t6rRP pic.twitter.com/r4gFOCzbcU
— ICO Drops (@ICODrops) July 9, 2024
This development may benefit Base users interested in euro-to-dollar exchanges.
A 2023 study indicated that blockchain-based forex trades could reduce costs by up to 80%.
However, trading EURC on decentralized exchanges might require patience as some, like Aerodrome, Uniswap, and BaseSwap, haven’t listed the coin yet.
To update the system, every currency needs to come onchain — first USD and now the EURO
— Base (@base) July 9, 2024
EURC, the euro-backed stablecoin issued by @circle is coming to Base
Builders can get EURC on testnet, starting now https://t.co/16ph9JmU0Q
PancakeSwap supports EURC through its “import” feature but issues a cautionary warning.
The official EURC token address on Base mainnet is 0x60a3e35cc302bfa44cb288bc5a4f316fdb1adb42.
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