Payment firm Circle, Solana Euro Coin (LEFT) to the blockchain and extending its own cross-chain protocol to the SOL ecosystem in the first half of 2023.
Circle had just launched Euro Coin in June as the European version of the popular stablecoin USDC. The Euro Coin works the same way but is pegged to the Euro instead of the dollar. Coins right now Ethereum live on the blockchain.
Circle Will Publish Euro Coin and Cross-Chain Transfer Protocol on Solana
Circle said in a statement that it will add support for Euro Coin once FTX goes live on SOL. Circle said other decentralized finance protocols have also expressed interest in supporting this stablecoin once it launches.
Sheraz Shere, head of payments at Solana Labs, explained:
“The availability of Euro Coin on Solana paves the way for new use cases for instant exchange, provides optionality for investors with a new base currency, allows Euro Coin lending and borrowing, and USDC as a payment currency on Solana Pay. will be presented with.”
Circle also plans to expand its unreleased cross-chain transfer protocol to the SOL ecosystem.
This protocol was announced in September and will go live on Ethereum and Avalanche in early 2023. Circle expects to bring that to Solana in the first half of 2023.
The cross-chain transfer protocol enables crypto projects to transfer USDC between different blockchains. Instead of using wrapped tokens, it uses stablecoin versions specific to each chain.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!