{"id":10045,"date":"2024-07-10T07:40:21","date_gmt":"2024-07-10T07:40:21","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=10045"},"modified":"2024-07-10T07:24:31","modified_gmt":"2024-07-10T07:24:31","slug":"circle-launches-euro-backed-eurc-on-base","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/circle-launches-euro-backed-eurc-on-base\/","title":{"rendered":"Circle Launches Euro-Backed EURC on Base"},"content":{"rendered":"\n

Circle, a leading stablecoin issuer, has launched its euro-backed stablecoin, EURC, on the Base network, expanding the range of networks where the coin can be natively issued and traded. The announcement on July 9 marks a significant step for EURC, making it the first MiCA-compliant stablecoin for the network.<\/p>\n\n\n\n

Expanding EURC’s Availability<\/h3>\n\n\n\n

Previously, EURC was available in native form only on Avalanche, Ethereum, Solana, and Stellar. The addition of Base, an Ethereum layer-2 network, represents the first time EURC is natively available on such a platform. Until now, layer-2 networks could only use a derivative form of EURC, backed by versions on other networks.<\/p>\n\n\n\n

Benefits for E-commerce and Compliance<\/h3>\n\n\n\n

Circle emphasized that the new version of EURC on Base will simplify global trade for e-commerce applications. Both the euro-backed EURC and the U.S. dollar-backed USDC are now compliant with the Markets in Crypto Assets (MiCA) regulation, making them the first stablecoins on Base from a global issuer to meet these standards.<\/p>\n\n\n\n

In contrast, crypto exchange Bitstamp recently announced the delisting of EURC\u2019s competitor, Tether Euro (EURT), citing non-compliance with MiCA regulations.<\/p>\n\n\n\n

Impact on Forex Trading<\/h3>\n\n\n\n

The launch is particularly significant for Base users who wish to exchange euros for dollars or vice-versa. A 2023 study found that performing forex trades on a blockchain can reduce costs by up to 80%. However, users may need to wait before trading EURC on their preferred decentralized exchanges, as some have yet to list the new coin.<\/p>\n\n\n\n

Current Trading Options<\/h3>\n\n\n\n

As of now, searches for “EURC” on Base versions of Aerodrome, Uniswap, and BaseSwap yield no results. PancakeSwap does allow trading of the token through its “import” feature, but it provides a strong warning to users before proceeding.<\/p>\n\n\n\n

For those interested in trading EURC on the Base network, the correct token address is 0x60a3e35cc302bfa44cb288bc5a4f316fdb1adb42, as per the announcement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Circle, a leading stablecoin issuer, has launched its euro-backed stablecoin, EURC, on the Base network, expanding the range of networks where the coin can be natively issued and traded. The announcement on July 9 marks a significant step for EURC, making it the first MiCA-compliant stablecoin for the network. Expanding EURC’s Availability Previously, EURC was […]<\/p>\n","protected":false},"author":18,"featured_media":1642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[259],"tags":[],"class_list":{"0":"post-10045","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-altcoins"},"acf":[],"yoast_head":"\nCircle Launches Euro-Backed EURC on Base<\/title>\n<meta name=\"description\" content=\"Circle, a leading stablecoin issuer, has launched its euro-backed stablecoin, EURC, on the Base network, expanding the range of networks where the coin\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/circle-launches-euro-backed-eurc-on-base\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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