EURC will soon join USDC as a prominent stablecoin on Base. It currently boasts over $3 billion in circulation as of July 9th.
This move highlights the euro’s status as the third-largest fiat currency and opens significant growth opportunities in the digital asset economy.
EURC Joins USDC on Base Blockchain for Enhanced Digital Transactions
EURC and USDC are noteworthy for being the first stablecoins on Base from a global issuer to comply with the new MiCA regulation. Both stablecoins are fully regulated, backed 1:1 by reserves, and redeemable directly for euros and dollars, respectively. This regulatory compliance enhances trust and stability, making them attractive for institutional use cases.
Institutional adoption is facilitated through Circle Mint, providing qualified businesses with seamless onboarding and off-ramping capabilities. Moreover, EURC and USDC offer easy integration into new and existing applications. This includes retail access through Coinbase’s extensive global network for fiat on- and off-ramps.
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The use cases for EURC and USDC on Base are extensive and diverse. They enable efficient cross-border payments with near-instant settlement, making international remittances, peer-to-peer payments, and marketplace payouts significantly more affordable compared to traditional systems.
Additionally, these stablecoins support crypto capital markets by providing continuous access to a robust DeFi ecosystem. They also serve as reliable stores of value in euros and dollars, offering users a hedge against the inflation of local currencies.
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