Circle, the issuer behind the USD Coin (USDC) stablecoin, will launch a new stablecoin that is backed by the Euro by the end of this month. Euro Coin (EUROC) will be issued under the same full-reserve model as USDC according to the announcement.
Binance.US, MetaMask, and Ledger are among the companies that will support the launch. It will initially only be accessible through the Silvergate network. However, users may trade and withdraw EUROC once it is published on exchanges.