Circle lanceert euro-backed stablecoin op Avalanche

Circle is expanding its stablecoin offering to a new blockchain. Eurocoin (EUROC) is now also available on Avalanche.

Circle's euro-backed stablecoin EUROC is now also running on the Avalanche blockchain. Circle announced this in a press release on May 25. This makes Avalanche the second blockchain to support the asset, following its launch on Ethereum last year.

Circle account holders now have access to "Euro Coin liquidity on Avalanche to trade or borrow, hold or make payments with Euro Coin on Avalanche in the cryptocurrency markets."

"We launched Euro Coin on Ethereum last year with the vision of making Euro accessible across borders and time zones to anyone with an Internet connection," said Joao Reginatto, VP of Product at Circle. "By launching on Avalanche, we enable developers and users to make transactions almost instantly, at a lower cost."

Circle is the company behind the world's second largest stablecoin, the USDC. EUROC currently has a market capitalization of about $50 million.