von • Circle has launched its euro-backed stablecoin Euro Coin on the Avalanche network, bringing increased liquidity to the platform.
• USDC wallets that support Euro Coin on Avalanche include Coinbase Wallet and MetaMask.
• The launch of the euro-backed stablecoin on Avalanche is expected to open up new possibilities for developers and other users of the blockchain network.
Circle Launches Euro-Backed Stablecoin On Avalanche
Circle has launched its euro-backed stablecoin, Euro Coin, on the smart contracts enabled layer-1 blockchain Avalanche. This will bring more liquidity to the platform and enable developers using USDC to easily integrate Euro Coin into their applications. Wallets that support this currency include Coinbase Wallet and MetaMask.
Expected Benefits Of The Launch
The launch of this coin is expected to bring multi-chain euro liquidity to developers and ecosystem users around the world. Additionally, it could open up new possibilities for payments, remittances and 24/7 FX for apps that support USDC. According to Joao Reginatto, VP of Product at Circle: “When we first introduced Euro Coin on Ethereum last year, we wanted anyone with an internet connection to have access to the euro across borders and time zones”.
Support From Ava Labs
John Nahas, VP of Business Development at Ava Labs also commented about how having a euro-backed stablecoin on Avalanche opens up new opportunities: “We continue to see great adoption and volume behind Circle’s USDC, and expect great feedback and usage of Euro Coin on Avalanche […]. Delivering a trusted and fully reserved euro stablecoin like Euro Coin will greatly accelerate the adoption of instant payments and remittances”.
Supported Apps & Wallets
Apps and wallets that support this currency include Coinbase Wallet, MetaMask, BENQI, Cables Core, Curve; all offering near-instant transactions with more cost effective fees than before thanks to Avalanche’s fast & efficient platform.
Conclusion
Euro Coin’s launch onto Avalon brings increased liquidity with it as well as many potential benefits for both developers & users alike; from faster transactions & cost effective fees through cross border payments & remittances – creating a truly global financial system accessible by anyone with an internet connection!
