{"id":241447,"date":"2024-07-09T22:11:40","date_gmt":"2024-07-09T22:11:40","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/09\/circles-euro-backed-stablecoin-eurc-to-launch-on-base\/"},"modified":"2025-06-25T17:15:02","modified_gmt":"2025-06-25T17:15:02","slug":"circles-euro-backed-stablecoin-eurc-to-launch-on-base","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/07\/09\/circles-euro-backed-stablecoin-eurc-to-launch-on-base\/","title":{"rendered":"Circle&#8217;s Euro-Backed Stablecoin EURC to Launch on Base"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<figure class=\"figure mt-2\">&#13;<br \/>\n                        <a href=\"https:\/\/image.blockchain.news:443\/features\/58C560F94F04130770112E2CB6E21C52A7EFFD6CD20603271E090714B2250752.jpg\">&#13;<br \/>\n                            <img decoding=\"async\" class=\"rounded\" src=\"https:\/\/image.blockchain.news:443\/features\/58C560F94F04130770112E2CB6E21C52A7EFFD6CD20603271E090714B2250752.jpg\" alt=\"Circle's Euro-Backed Stablecoin EURC to Launch on Base\"\/>&#13;<br \/>\n&#13;<br \/>\n                        <\/a>&#13;<br \/>\n                    <\/figure>\n<p>Circle, a leading global financial technology firm, has announced the upcoming launch of its euro-backed stablecoin, EURC, on the Base network. This marks the first euro-backed stablecoin to be introduced on the Base platform, aiming to facilitate faster and cheaper commerce for developers and global users, according to <a rel=\"nofollow\" href=\"https:\/\/www.circle.com\/blog\/eurc-is-coming-to-base\">Circle<\/a>.<\/p>\n<h2>Significance of EURC for the Base Ecosystem<\/h2>\n<p>The addition of EURC to the Base network is expected to significantly enhance the ecosystem. Circle&#8217;s EURC joins USDC, another stablecoin issued by Circle, which has already seen substantial adoption on Base with over $3 billion in circulation as of July 9, 2024. The euro, being the third largest fiat currency globally, represents a vast opportunity for growth within the digital asset economy.<\/p>\n<h2>Compliance with MiCA Regulation<\/h2>\n<p>Both EURC and USDC are the first stablecoins on Base from a global issuer that comply with the new Markets in Crypto Assets (MiCA) regulation. This ensures that these digital currencies are regulated, fully reserved, and redeemable 1:1 for euros and dollars respectively, providing a secure and reliable means for transactions and savings.<\/p>\n<h2>Benefits and Use Cases<\/h2>\n<p>Circle highlights several benefits and use cases for integrating EURC and USDC into the Base network:<\/p>\n<ul>\n<li>Regulated, fully reserved, and redeemable 1:1 for euros and dollars respectively<\/li>\n<li>Institutional on\/off-ramps via Circle Mint for qualified businesses<\/li>\n<li>Easy integration into new and existing applications<\/li>\n<li>Retail access to Coinbase\u2019s global on- and off-ramp network<\/li>\n<\/ul>\n<p>These features support a variety of applications, including near-instant cross-border payments for international remittances, peer-to-peer payments, and marketplace payouts at a fraction of the cost of traditional systems. Additionally, they provide 24\/7 access to a robust DeFi ecosystem and offer a store of value for savings and FX to hedge against local currency inflation.<\/p>\n<h2>Developer Opportunities<\/h2>\n<p>Developers are encouraged to experiment with fund flows in their applications using testnet EURC or USDC on Base Sepolia. Circle provides a Testnet Faucet to facilitate this experimentation, enabling developers to integrate and test the new stablecoins within their projects.<\/p>\n<h2>Conclusion<\/h2>\n<p>The introduction of EURC on the Base network by Circle is a significant development for the digital asset economy, providing a euro-backed stablecoin that enhances the capabilities and reach of the Base ecosystem. This launch is expected to drive further innovation and adoption of digital currencies globally.<\/p>\n<p><span><i>Image source: Shutterstock<\/i><\/span>                    <!-- Divider --><\/p>\n<p>                    <!-- Divider --><\/p>\n<p>                    <!-- Author info START --><br \/>\n                    <!-- Author info END --><br \/>\n                    <!-- Divider -->\n                <\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/blockchain.news\/news\/circles-euro-backed-stablecoin-eurc-to-launch-on-base\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] &#13; &#13; &#13; &#13; &#13; Circle, a leading global financial technology firm, has announced the upcoming launch of its euro-backed stablecoin, EURC, on the<\/p>\n","protected":false},"author":1,"featured_media":241448,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[171],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/241447"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=241447"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/241447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/241448"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=241447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=241447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=241447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}