Cointelegraph
Circle launches native euro stablecoin on Stellar
Circle launches native euro stablecoin on Stellar
Stablecoin issuer Circle has launched a Stellar-based version of its euro-backed stablecoin, EURC, according to a Sept. 26 announcement. EURC was previously only available on the Ethereum and Avalanche networks.
Stablecoins, or fiat-backed crypto tokens, have become an essential component of the Web3 ecosystem. They allow users to send payments, borrow currency, lend it out for interest and perform other fiat-currency-related actions on blockchain networks. The U.S. dollar-backed USD Coin USDC and Tether USDT are currently the sixth and seventh largest cryptocurrencies by market cap, respectively. Tether’s contract is the third-largest consumer of gas fees on Ethereum, according to Etherscan.
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