Coinbase lists Circle’s euro stablecoin, EUROC Coinbase lists Circle’s euro stablecoin, EUROC
The asset appears to be the first EUR stablecoin fully supported by the exchange.
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Updated: Feb. 28, 2023 at 11:28 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase has listed Euro Coin (EUROC), according to an announcement from the company on Feb. 28.
EUROC was originally introduced by Circle in June 2022. The asset is pegged to the value of the euro and is 100% backed by euros in EUR-denominated bank accounts — a practice that should ensure the stablecoin can be fully redeemed at any time.
Euro Coin is similar to its better-known counterpart, USD Coin or USDC, which is pegged to the American dollar. Coinbase and Circle maintain a close relationship as the two founding members of Centre, the consortium originally responsible for launching USDC.
EUROC appears to be the first euro-pegged stablecoin that is fully supported by Coinbase. According to Coinbase’s listing pages, the competing stablecoins Stasis Euro (EURS), Euro Tether (EURT), and sEUR (SEUR) can be custodied in the Coinbase wallet but not traded on the exchange. Other euro stablecoins, such as Celo Euro (CEUR), are not supported at all.
Coinbase also offers varying levels of support for the U.S. dollar stablecoins Tether’s USDT, Maker’s DAI, and Paxos’ PAX. Not all of those stablecoins are listed on its main exchange.
Today’s listing comes just one day after Coinbase announced that it would suspend trading of the Binance USD (BUSD) stablecoin — and on the same day that the company unveiled its crypto policy advocacy program, Crypto 435.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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Euro Coin (EUROC) is issued by Circle under the same full-reserve model as USD Coin (USDC), a trusted dollar digital currency with more than $54 billion in circulation.1 Designed for stability, Euro Coin is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
