Stablecoin issuer Circle has launched its Euro-based stablecoin on the Solana (SOL) blockchain.
Circle, the issuer of USD Coin (USDC), one of the largest stablecoins in the market. solana launched a new stablecoin on . A euro-backed stablecoin.EURC“, before Ethereum (ETH), Avalanche (AVAX) And Stellar (XLM) It was put into operation on blockchains.
In the statement made by the company, EURC 24/7 worldwide foreign exchange transactions And transfer It was stated that it would allow transactions.
Circle fronts Solana network cheap, fast, A lot chained And transparent He stated that they chose it because it was. However, the EURC European Union (EU) in the laws a regulated and accepted stablecoin It was stated that they are continuing their efforts to make it happen.
Making a statement on the subject, Circle’s vice president of product management Rachel MayerHe emphasized that this Euro-based product will bring many benefits:
The EURC is well positioned to radically develop peer-to-peer (P2P) transfers and European remittance corridors. Users will be able to hold their savings securely in Euros without the need for a traditional bank account, offering a powerful tool for those looking to hedge against local currency volatility or devaluation risks affecting many regions globally.
Wall Street’s giant institution Bernstein In a report shared in August, the future of the stablecoin industry 3 trillion dollars in 5 years He stated that it could grow as much as