Circle, a renowned global financial technology firm and issuer of the leading regulated stablecoin USDC, has taken a significant step by introducing EURC, a stablecoin backed by euros, on the Solana network.
This strategic move, announced today, offers a new dimension in financial transactions, enabling instant payments and global currency exchange operations efficiently and without interruptions.
The time is now for 24/7 on-chain FX with global, instant settlement. Learn more 👇 https://t.co/hrCirklYGY
— Circle (@circle) December 18, 2023
Like USDC, EURC operates under a full reserve model, ensuring that each unit of the stablecoin is backed by one euro.
This implementation on Solana marks the fourth blockchain where EURC is natively available, joining to its presence in Avalanche, Ethereum and Stellar.
The launch of Circle opens the doors to a diverse range of possibilities for developers and users
Allows the construction and execution of transactions using both EURC and USDC on the Solana network, which speeds up and reduces shipping costs, spending and saving money on a global scale.
Through Circle Mint, businesses can convert euros to EURC and vice versa without complications, accessing applications in the Solana ecosystem to financial services and currency exchange operations available all the time, as well as very low-cost payments.
Circle aims to make EURC compliant with future MiCA regulations as an e-money token in Europe.
This vision guarantees high standards of trust, transparency and reliability for EURC developers and users in Solana, consolidating trust in this ecosystem emerging financial.
Several DeFi applications and digital wallets, such as Jupiter Exchange, Meteora, Orca and Phoenix, are ready to leverage EURC on Solana, allowing instant currency exchange transactions 24 hours a day, as well as trading operations, loans and credits for its users.
The launch of EURC on Solana, with its promise of financial efficiency and security for users, signals a significant step towards a more inclusive and adaptable financial ecosystem to the changing needs of the modern world.