Stablecoin issuer Circle has expanded its digital Euro Coin (EUROC) to the Avalanche network, making it the second blockchain platform to support the euro-backed stablecoin after it launched on Ethereum last year.
The firm has said that the integration of EUROC into Avalanche-based applications should be a seamless process, especially for those that are already utilizing the USDC stablecoin.
According to Circle, several Avalanche applications have expressed a keen interest in incorporating support for Euro Coin. Anticipated to be part of this integration are a range of decentralized finance applications on the Avalanche network including Benqi, Curve, Dexalot, GMX, Pangolin, Shift Markets, and Trader Joe.
The move also allows holders of Circle Accounts to harness the liquidity of Euro Coin on Avalanche for various applications, such as cryptocurrency trading, custody, lending, and to facilitate or accept payments.
Joao Reginatto, VP of Product at Circle, noted that the initial launch of Euro Coin on Ethereum was carried out with an aim to render the euro more accessible across different geographic and time boundaries for any individual with internet access.
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/may/26/