Circle Expands Euro Coin (EUROC) to Solana
Circle, the company behind the USDC stablecoin, is bringing Euro Coin (EUROC) to Solana and extending its cross-chain protocol to the blockchain.
Euro Coin, or EUROC, is fully backed by euros rather than US dollars, offering reliability comparable to USDC. According to the launch announcement on June 16, EUROC adheres to the ERC-20 standard on Ethereum.
1/ On stage at #SolanaBreakpoint we announced the expansion of native support for Euro Coin and developer access to our Cross-Chain Transfer Protocol on @Solana in the first half of 2023. https://t.co/j8NVLG9nsi
— Circle (@circle) November 6, 2022
FTX will integrate support for Euro Coin once it is successfully implemented on Solana, Circle added. Additionally, other decentralized finance (DeFi) protocols have expressed interest in supporting this stablecoin.
Sheraz Shere, Head of Payments at Solana Labs, commented:
“The availability of Euro Coin on Solana opens up new use cases for instant transactions, providing traders with an additional base currency option and making it available alongside USDC as a payment currency in Solana Pay.”
Furthermore, Circle plans to expand its cross-chain protocol to facilitate USDC transfers between blockchains, including Solana. Although announced in September, this protocol will first launch on Ethereum and Avalanche at the beginning of 2023, with further expansion to other ecosystems to follow.
