Circle to launch the first euro-dominated stablecoin

Circle to launch the first euro-dominated stablecoin
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
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  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
BUSINESS

Circle to launch the first euro-dominated stablecoin

Circle will release the first stablecoin backed by the euro — the world’s second-largest reserve fiat currency after the U.S dollar.

06/17/2022

Crypto company Circle, which owns and operates USD Coin, will launch the first euro-dominated stablecoin called Euro Coin by the end of the month amidst significant turmoil in the cryptocurrency market.

Circle will release stablecoin, the Euro Coin

Chief executive and co-founder of Circle Jeremy Allaire said in an interview, “This is actually, in some ways, it’s a great time to be launching products.”

“The market turmoil has been a really positive catalyst for USDC. It has been the flight to safety for crypto,” Allaire added.

Meanwhile, Euro Coin will be tradeable on some largest crypto exchanges starting June 30.

According to Circle, the euro-denominated bank accounts will back the Euro Coin entirely. It differs from USDC, backed 1-for-1 by fiat and short-term Treasurys.

USD Coin (USDC) has increased in circulation, starting from $49 billion to above $54 billion, as of this week.

In May, the third largest stablecoin Terra collapsed in just a few days. Several claims surfaced that it relied on an algorithm to maintain its $1 value in check yet was not backed by hard assets.

By Marielle Petere Wozinga Staff

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