June 26, 2022

On Thursday, Circle’s CEO Jeremy Allaire announced that the company has launched a new stablecoin pegged to the value of the euro (EUR). Allaire said that the new EUROC token is now live on the Ethereum network and will be “available to mint and redeem on June 30th.”

Circle has announced the launch of the company’s second major fiat-pegged crypto asset called euro coin (EUROC). The announcement stemmed from Circle’s CEO Jeremy Allaire on Thursday who explained that EUROC already has “broad industry support.” Circle also follows the company Tether Limited, which introduced a euro stablecoin called EURT in August 2016. There’s currently €195.99 million worth of Tether’s EURT at the time of writing and roughly $7 million in global trade volume during the past 24 hours. In terms of the stablecoin’s fiat backing, Circle’s new EUROC web portal states:

Circle Launches EUROC

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