Circle, a leading stablecoin issuer, has introduced Euro Coin (EUROC) on Avalanche, marking a strategic step towards providing faster and more efficient payment solutions and financial services to developers and users.
This launch is part of Circle’s comprehensive multi-chain strategy for EUROC, aimed at expanding its reach and functionality.
By offering EUROC on the Avalanche network, Circle enhances the liquidity of the stablecoin and empowers users with the flexibility to transact in euros, complementing their existing USD-backed stablecoin, USD Coin (USDC).
This development opens up new avenues for seamless and convenient transactions in both euros and US dollars, catering to the diverse needs of users and fostering greater adoption of stablecoin-based financial services.
John Nahas, the Vice President of Business Development at Ava Labs, anticipates a positive response and widespread utilization of Euro Coin on the Avalanche blockchain.
Nahas believes that the decentralized finance (DeFi) sector is evolving towards a more inclusive, multi-currency, and cross-border ecosystem. By incorporating Euro Coin into the mix, the adoption of stablecoin-based financial services is expected to accelerate, reaching a broader global audience.
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