{"id":328907,"date":"2023-05-26T19:59:11","date_gmt":"2023-05-26T18:59:11","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=328907"},"modified":"2025-11-18T23:27:47","modified_gmt":"2025-11-18T23:27:47","slug":"circle-launches-euro-coin-on-avalanche","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/circle-launches-euro-coin-on-avalanche\/","title":{"rendered":"Circle launches EURC on Avalanche"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Circle, the digital fintech firm most famous as the issuer of the USDC stablecoin and, more recently, <a href=\"https:\/\/www.circle.com\/en\/euro-coin\">EURC<\/a>, has unveiled the launch of <a href=\"https:\/\/snowtrace.io\/token\/0xc891eb4cbdeff6e073e859e987815ed1505c2acd\">EURC on the Avalanche blockchain<\/a>.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Circle anticipates the launch to be the first of many multi-chain launches for its reportedly fully-backed euro-denominated stablecoin. Like USDC, EURC is designed to hold its price stability by being fully backed by fiat euros and is redeemable on demand. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Circle has made public its most recent <a href=\"https:\/\/www.circle.com\/hubfs\/Euro%20Coin%20Attestations\/2023%20EUROC_Circle%20Examination%20Report%20March%202023.pdf\">attestation report<\/a> by Deloitte to verify the one-to-one backing of its euro reserves.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The integration of EURC into the Avalanche blockchain is expected to bolster euro liquidity and enhance transactional flexibility for users across the globe.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This development can facilitate transactions in euros using EURC, alongside the existing U.S. dollar transactions with USDC. The commonality in the smart contract designs for the Circle-issued stablecoins, USDC and EURC, offers a seamless integration process for Avalanche developers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reflecting on the initial introduction of EURC on Ethereum last year, Joao Reginatto, VP of Product at Circle, said: &#8220;Our objective was to democratize access to the euro, making it available to anyone with an internet connection, irrespective of geographical boundaries and time constraints.&#8221;\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He continued:<\/span><\/p>\n<blockquote><p>&#8220;By launching <strong>EURC<\/strong> on Avalanche, a platform recognized for its speed and efficiency, we aim to offer developers and users the advantage of near-instantaneous, cost-effective financial transactions, opening up new avenues for payments, remittances, and round-the-clock foreign exchange.&#8221;<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">John Nahas, Vice President of Business Development at Ava Labs, echoed the sentiment, saying:\u00a0<\/span><\/p>\n<blockquote><p>&#8220;The introduction of <strong>EURC<\/strong> to the Avalanche blockchain is a critical development, creating fresh opportunities for our developers and users alike\u2026 As DeFi evolves into a multi-currency, cross-border ecosystem, the delivery of a trustworthy, fully-reserved euro stablecoin such as <strong>EURC<\/strong> will undoubtedly expedite the adoption of instantaneous payments and remittances across a broader global audience.&#8221;<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Nahas emphasized the continued growth and popularity of Circle's USDC and projected a similar response to the introduction of EURC on Avalanche.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a result of this development, Circle Account holders can now leverage the increased EURC liquidity on Avalanche to trade or lend in crypto capital markets, manage custody, or execute and receive payments with EURC on Avalanche. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle, the digital fintech firm most famous as the issuer of the USDC stablecoin and, more recently, EURC, has unveiled the launch of EURC on the Avalanche blockchain.\u00a0 Circle anticipates the launch to be the first of many multi-chain launches for its reportedly fully-backed euro-denominated stablecoin. Like USDC, EURC is designed to hold its price [&hellip;]<\/p>\n","protected":false},"author":1419,"featured_media":319236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,32631],"tags":[76920],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Circle launches EURC on Avalanche<\/title>\n<meta name=\"description\" content=\"Circle&#039;s EURC\u2014it&#039;s second major stablecoin after USDC\u2014has officially launched on the Avalanche blockchain.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/circle-launches-euro-coin-on-avalanche\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Circle launches EURC on Avalanche\" \/>\n<meta property=\"og:description\" content=\"Circle&#039;s EURC\u2014it&#039;s second major stablecoin after USDC\u2014has officially launched on the Avalanche blockchain.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/circle-launches-euro-coin-on-avalanche\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-26T18:59:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-18T23:27:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/euro-stablecoin-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jacob Oliver\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jacob Oliver\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/circle-launches-euro-coin-on-avalanche\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/circle-launches-euro-coin-on-avalanche\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/#person\",\"name\":\"Jacob Oliver\",\"url\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/jacob-oliver-editor-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/jacob-oliver-editor-300x300.jpg\",\"caption\":\"Jacob Oliver\"},\"jobTitle\":\"Former Editor\",\"description\":\"Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. 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