Circle, a global digital financial technology firm, announced the launch of Euro Coin on Avalanche, a fast and efficient platform. Euro Coin is a euro-backed stablecoin that aims to provide faster and more cost-effective financial transactions for developers and users. By bringing Euro Coin to Avalanche, Circle aims to increase euro liquidity and offer new possibilities for payments, remittances, and 24/7 FX.
Developers who support USDC, another stablecoin issued by Circle, in their apps will find it easy to integrate Euro Coin, as both stablecoins are based on similar smart contract designs. This move is expected to accelerate the adoption of instant payments and remittances on a global scale.
Circle Account holders can now access Euro Coin liquidity on Avalanche for trading, lending, custody, or making and accepting payments. Leading apps and wallets, including BENQI, Coinbase Wallet, and MetaMask, among others, will support Euro Coin on Avalanche.
Overall, Circle’s launch of Euro Coin on Avalanche opens up new possibilities for developers and end-users by combining the efficiency of the Avalanche platform with the potential of a euro-backed stablecoin. This move aligns with the growing demand for decentralized finance solutions in a multi-currency, cross-border environment.