Circle Issues Euro-Backed Stablecoin EURC Natively on the Solana Blockchain
Summary
Stablecoin issuer Circle Internet Financial has launched its euro-backed stablecoin, EURC, on the Solana blockchain. The move allows for cheap and speedy transactions and enables peer-to-peer transfers and foreign-exchange transactions. EURC is also supported on the Avalanche, Ethereum, and Stellar blockchains. Stablecoins are becoming increasingly popular for cross-border transactions and savings in developing countries. Circle plans to have EURC regulated as an e-money token under the upcoming European Union-wide digital asset regulations. While euro stablecoins have struggled to gain traction, Circle believes EURC can offer a powerful tool for safeguarding against currency volatility.
