Circle Launches Euro-Backed Stablecoin on Avalanche: Instant Payments & Remittances

• Circle has launched its euro-backed stablecoin, Euro Coin, on Avalanche.
• This will bring more liquidity to the network and developers can easily integrate USDC with Euro Coin.
• Wallets that support Euro Coin include Coinbase Wallet and MetaMask.

Circle Launches Its Euro-Backed Stablecoin on Avalanche

Circle, the issuer of the popular USDC stablecoin, has announced the launch of its other fiat-backed stablecoin, Euro Coin, on Avalanche, a smart contracts enabled layer-1 blockchain. The euro-backed stablecoin is expected to bring multi-chain euro liquidity to developers and users around the world. According to Circle, wallets that support Euro Coin on Avalanche include Coinbase Wallet and MetaMask.

Bringing More Liquidity To The Network

The launch of the euro-backed stablecoin on Avalanche will bring more liquidity to the network, Circle said in a press release. Developers using USDC can now easily integrate Euro Coin into their applications as well as wallets that support it.

Euro Liquidity Comes To Avalanche

Circle says it expects Euro Coin’s launch on Avalanche will be the first in a series that’s set to see the euro-backed stablecoin bring multi-chain euro liquidity to developers and ecosystem users around the world. Deployment on Avalanche also means apps that support USDC will easily integrate Euro Coin for more cost effective financial transactions.

Benefits For Developers And Users

Having the euro-backed stablecoin available on Avalanche opens up new possibilities for developers and other users. John Nahas from Ava Labs said: “We continue to see great adoption and volume behind Circle’s USDC, and expect great feedback and usage of Euro Coin on Avalanche. DeFi continues to expand into a multi-currency, cross-border environment – delivering a trusted and fully reserved euro stablecoin like Euro Coin will greatly accelerate the adoption of instant payments and remittances to a much larger swath of the world.“

Wallets Supporting The Stablecoin On Avalanche

According to Circle, apps and wallets that support the stablecoin on Avalanche include Coinbase Wallet, MetaMask, BENQI, Cables Core & Curve among others