• Circle recently launched its Euro Coin on Avalanche, a smart contracts enabled layer-1 blockchain.
• This euro-backed stablecoin is expected to bring more liquidity and enable near-instant, cost effective financial transactions.
• Wallets that support Euro Coin on Avalanche include Coinbase Wallet, MetaMask, BENQI, Cables, Core and Curve.
Circle Launches Its Euro-Backed Stablecoin On Avalanche
Circle has launched its other fiat-backed stablecoin Euro Coin on Avalanche, a smart contracts enabled layer-1 blockchain. With the launch of this euro-backed stablecoin on Avalanche, developers will be able to easily integrate Euro Coin into wallets that support it such as Coinbase Wallet and MetaMask.
More Liquidity To The Avalanche Network
Circle says it expects Euro Coin’s launch on Avalanche will be the first in a series that’s set to see the euro-backed stablecoin bring multi-chain euro liquidity to developers and ecosystem users around the world. It also hopes that deployment on Avalanche will mean apps that support USDC can easily integrate Euro Coin.
Euro Liquidity Comes To Avalance
„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,“ said Joao Reginatto, VP of Product at Circle. He added: “By launching Euro Coin on Avalanche’s fast and efficient platform, we can help developers and their users experience near-instant, more cost effective financial transactions and unlock new possibilities for payments, remittances and 24/7 FX.“
Expected Great Feedback From Usage Of Euro Coin On Avance
„We continue to see great adoption and volume behind Circle’s USDC, and expect great feedback and usage of Euro Coin on Avalanche,“ said John Nahas from Ava Labs‘ Business Development team. He further noted: „DeFi continues to expand into a multi-currency cross border environment – delivering a trusted fully reserved euro stablecoin like Euro coin will greatly accelerate the adoption of instant payments and remittances to a much larger swath of the world.“
Wallets That Support The Stablecoin On Avancale
According to Circle’s press release some wallets that support the stablecoin on Avancale include Coinbase Wallet , MetaMask , BENQI , Cables , Core ,and Curve.