{"id":464140,"date":"2022-06-16T16:00:00","date_gmt":"2022-06-16T13:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/circle-launches-euro-backed-stablecoin-euroc\/"},"modified":"2022-06-16T16:00:00","modified_gmt":"2022-06-16T13:00:00","slug":"circle-launches-euro-backed-stablecoin-euroc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/circle-launches-euro-backed-stablecoin-euroc\/","title":{"rendered":"#Circle launches euro-backed stablecoin EUROC"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3aced36870c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3aced36870c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/circle-launches-euro-backed-stablecoin-euroc\/#%E2%80%9CCircle_launches_euro-backed_stablecoin_EUROC%E2%80%9D\" >&#8220;Circle launches euro-backed stablecoin EUROC&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CCircle_launches_euro-backed_stablecoin_EUROC%E2%80%9D\"><\/span>&#8220;Circle launches euro-backed stablecoin EUROC&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYzNkYjM3Y2YtMWM0NS00ZTM2LTlkNWYtNmE5YTExOWQxNDY1LmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                Demand for stablecoins continues to rise as businesses look to on-chain liquidity to improve their operations.  \n                &lt;p&gt;USD Coin (USDC) issuer Circle Internet Financial is launching a fully-reserved stablecoin pegged to the euro, signaling to the market that demand for crypto foreign exchange services remains high despite recent industry turmoil.\u00a0\n<\/code><\/pre>\n<p>Euro Coin, or EUROC, will be available for trading on June 30, Circle said Thursday in a statement that was shared with Cointelegraph. Like USDC, Euro Coin is a regulated stablecoin that is fully backed by reserves \u2014 in this case, the euro. That means every EUROC token in circulation will have an equivalent euro-denominated reserve held in custody at financial institutions regulated by the United States.\u00a0<\/p>\n<p>Silvergate Bank, a crypto-friendly financial institution, was listed as the initial custodian for the euro-pegged stablecoin.<\/p>\n<p>EUROC stablecoin gives businesses wider access to euro liquidity, which can be used for payments, trading, lending and borrowing. The stablecoin will initially launch on the Ethereum blockchain as an ERC-20 standard token.<\/p>\n<p>In terms of foreign exchange turnover, the euro is the second largest fiat currency in the world, according to the Bank for International Settlement (BIS). The BIS\u2019 2019 Triennial Central Bank Survey <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bis.org\/statistics\/rpfx19_fx.htm\">found<\/a> that the euro was on one side of 32% of all currency trades.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto Biz: Stablecoins are paving the way for mass adoption of crypto, June 2\u20138<\/em><\/strong><\/p>\n<p>Launched in 1999, the euro is the common currency of the 19-member Eurozone. Its dominance as a trading pair is further reflected in the United States Dollar Index, or DXY, where it holds a 57.6% weighting.<\/p>\n<p>Stablecoins were initially conceived as a way to give crypto traders access to liquidity due to banking restrictions on digital assets. However, their utility has expanded significantly over the years. Stablecoins now serve the unbanked and underbanked populations, as well as users in countries where access to dollars is restricted due to capital controls or sanctions. As Cointelegraph reported, Circle recently launched dedicated business accounts for USDC transactions, underscoring the growing demand for stablecoin payments among enterprises. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"> CRYPTO <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">NEWS<\/a> ALERT! <\/p>\n<p>Crypto remittances must have allure of cash without regulatory constraints \u2014 Jeremy Allaire https:\/\/t.co\/uJbqNDgVdx<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/WorldEconomicForum?src=hash&amp;ref_src=twsrc%5Etfw\">#WorldEconomicForum<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Davos?src=hash&amp;ref_src=twsrc%5Etfw\">#Davos<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/JeremyAllaire?src=hash&amp;ref_src=twsrc%5Etfw\">#JeremyAllaire<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Remittances?src=hash&amp;ref_src=twsrc%5Etfw\">#Remittances<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\">#ETH<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\">#DOGE<\/a><\/p>\n<p>\u2014 J.ETH  (@CryptoNews_21) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoNews_21\/status\/1528779243521466369?ref_src=twsrc%5Etfw\">May 23, 2022<\/a><\/p><\/blockquote>\n<p>The global stablecoin market is presently worth more than $157.5 billion, according to CoinMarketCap. The market cap of USDC stands at $54.2 billion.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/circle-launches-euro-backed-stablecoin-euroc\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Circle launches euro-backed stablecoin EUROC&#8221; Demand for stablecoins continues to rise as businesses look to on-chain liquidity to improve their operations. &lt;p&gt;USD Coin (USDC) issuer Circle Internet Financial is launching a fully-reserved stablecoin pegged to the euro, signaling to the market that demand for crypto foreign exchange services remains high despite recent industry turmoil.\u00a0 Euro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYzNkYjM3Y2YtMWM0NS00ZTM2LTlkNWYtNmE5YTExOWQxNDY1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-464140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464140"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464141"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}