{"id":12020,"date":"2022-07-04T11:03:25","date_gmt":"2022-07-04T11:03:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/circle-launches-euro-backed-stablecoin-euroc\/"},"modified":"2022-07-04T11:03:29","modified_gmt":"2022-07-04T11:03:29","slug":"circle-launches-euro-backed-stablecoin-euroc","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/circle-launches-euro-backed-stablecoin-euroc\/","title":{"rendered":"Circle launches euro-backed stablecoin EUROC"},"content":{"rendered":"
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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<\/p>\n
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