Circle announces new euro-backed stablecoin

USD Coin (USDC) issuer Circle Internet Financial has expanded with a new euro-centric stablecoin.

Euro Coin (EUROC) will be made available starting June 30.

The new stablecoin will be “a regulated, euro-backed stablecoin issued under the same full-reserve model and built on the same pillars of trust and transparency, Circle announced.

To start, EUROC will be issued as an ERC-20 token on the Ethereum blockchain.

Support for additional blockchains expected later this year.

Circle said a number of exchanges will provide support for the stablecoin at launch, naming FTX, Bitstamp, BinanceUS, Huobi as well as Uniswap.

Other platforms providing support for EUROC at launch include Anchorage, Compound, Curve and Fireblocks, among others.