Euro stablecoin by Circle launched on Stellar Network

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Circle Launches EURC on Stellar Network

• Circle (USDC-issuer) launched its euro-pegged stablecoin on the Stellar network.
• Stellar is the third network to offer EURC after Ethereum and Avalanche.
• Euro is the second most traded fiat in the world. 20 European countries use it as their official currency.
• Stasis Euro (EURS) on Cardano and Membrane Finance’s EUROe on Ethereum are other Euro-stablecoins.
• USDT and USDC are top stablecoins. Both are pegged to the U.S. dollar.
• Previously, EURC was known as EUROC.

Why is it important?

• More people in the eurozone can hold digital assets without the US dollar detour.
• Due to the variability of USD-EUR rates, the second largest [traded] fiat currency can maintain its dominance without losing value.

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Statista

With availability on 3 networks (and expanding to more), EURC might become the biggest Euro stablecoin in market cap.

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Crypto.com

Currently, it has a market cap of ~$50M, a fraction of the market cap of the largest stablecoin, USDT which has a market cap of $83B.

Circle’s USDC has a market cap of $25.6B.

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If the Euro/USD stablecoins trading ratio (1:3) matches that of their fiat counterpart, we could see Euro stablecoins Mcap reach $10B - $30B.

Stablecoin flows can often predict the sentiment of the market.

Learn more about stablecoins here.

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Orb: $2.3M

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https://www.orb.ac/

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