Avalanche Launches Euro Coin for Fast and Easy Digital Finance
Developers now can use Euro Coin on Avalanche, a completely reserved, euro-backed stablecoin. This will improve the accessibility and efficiency of digital money. Euro Coin, created to increase the availability of the Euro, allows users to enjoy the benefits of multi-currency digital finance and near-instant foreign exchange (FX) 24 hours a day, seven days a week by integrating $USDC and Euro Coin into the Avalanche platform.
6) As an ERC-20 on Ethereum and Avalanche, $EUROC is supported by EVM-compatible wallets like @CoinbaseWallet, @coreapp, and @MetaMask – providing a safe and easy way to use $EUROC with popular apps.
— Circle (@circle) May 25, 2023
Euro Coin Integration Boosts Avalanche’s Crypto Capital Markets
Businesses and institutions can open a Circle Account to access the liquidity of $EUROC for payments, treasury operations, and Avalanche’s crypto capital markets. Euro Coin (EUROC), launched in 2022, is a completely reserved, euro-backed stablecoin based on Ethereum to meet the needs of businesses and developers. With the introduction of Euro Coin, new opportunities for international trade, foreign exchange, and euro adoption emerge.
Euro Coin is the newest Circle stablecoin to gain support on several chains, and it is currently natively supported on Avalanche. Within the cutting-edge Avalanche ecosystem, users may easily transmit, spend, save, lend, and borrow utilizing Avalanche EUROC. Building applications on the Avalanche network with a stablecoin backed by the euro allows both new and current apps to offer on-chain euro transactions. Circle gives Avalanche EUROC liquidity to qualifying firms with a Circle Account. Using their Circle Account and the Circle APIs, users may easily convert EuroCoin between Ethereum and Avalanche.
Avalanche Emerges as a Powerhouse in DeFi and NFTs with 8 Million Active Wallets
Some of the most famous efforts in decentralized finance (DeFi) and non-fungible tokens (NFTs) are powered by Avalanche, a decentralized smart contracts platform. Avalanche has quickly emerged as one of the fastest-growing Web3 ecosystems since its launch in September 2020, with over 8 million active wallet addresses. Because Avalanche is Ethereum-compatible, Ethereum users and developers may easily access and create high-performance decentralized apps. Avalanche allows low-cost transactions with a quick settlement.
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As of May 15th, 2023, apps created on Avalanche had locked in approximately $760,000,000 in Total Value Locked (TVL), demonstrating the Avalanche developer ecosystem’s continued development. Businesses may better serve their customers throughout the world by adding Avalanche EUROC into digital asset trading and cross-border payments.
The launch of Euro Coin on Avalanche is a big step forward in the growth of digital banking. Euro Coin, with its constant value, accessibility, and Ethereum compatibility, provides new channels for people and companies can participate in smooth euro transactions within the burgeoning Avalanche ecosystem.
