Circle Launches EURC on Base Mainnet
Circle’s EURC, a euro-backed stablecoin, is now live on the Base mainnet. This marks a significant milestone in the integration of euro-backed stablecoins into the global financial system. The launch of EURC will open new avenues for developers and users, offering enhanced flexibility and utility in the financial ecosystem.
Key Features and Support
EURC is designed to bring trust and compliance to businesses and developers, facilitating global commerce on the Base network. Key features of EURC include:
- Support from leading partners: Aerodrome, Coinbase, Coinbase Wallet, and Uniswap Labs.
- Integration with Circle Mint and its APIs for minting and redeeming EURC on Base.
- Seamless access for financial institutions to EURC through Circle Mint accounts.
Broader Implications and Use Cases
The launch of EURC follows the successful introduction of USDC on the Base network last year. USDC has become the largest stablecoin on Base, holding nearly $3 billion in circulation and a 97% market share among stablecoins.
EURC on Base offers various use cases for developers, fintech companies, exchanges, and traders worldwide, including:
- Foreign exchange trading
- Borrowing and lending
- Decentralized finance (DeFi) applications
The ability to convert fiat currency to EURC or USDC on Base through Circle Mint accounts enhances the flexibility and utility of these stablecoins. The introduction of EURC on Base represents a significant advancement in the integration of euro-backed stablecoins into the global financial system, promising increased efficiency and reach for euro-denominated transactions.
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