Cryptoย Stablecoin issuer Circle has rolled out its Euro Coin cryptoย stablecoin on the Avalancheย network, making it the Second blockchainย tech toย facilitate the investment following theย preliminary launch on Ethereumย (ETH) last year.
Circle stated the integration of Euro Coin will be straightforward for Avalancheย (AVAX) applications that already support the USDC cryptoย stablecoin. Theย growth of Euro Coin to Avalancheย (AVAX) signifies a growing demand for cryptoย stablecoin diversity on numerous blockchains.
Plentyย of applications on Avalancheย (AVAX) have shown interest in adding support for Euro Coin, Circle stated in a statement, and (DeFi) applications on the Avalancheย (AVAX) network including Benqi, Curve, Dexalot, GMX, Pangolin, Shift Markets, and Trader Joe are expected to integrate the stablecoin.
โWe launched Euro Coin on Ethereumย (ETH) aย yearย ago with a vision to make the euro accessible across borders and time zones for anyone with an internet connection,โ stated Joao Reginatto, VP of Product at Circle. โWith the launch on Avalancheย (AVAX), we are enabling developers and users to experience near-instant, more cost-effective transactions, opening up newย potential for payments, remittances, and 24/7 FX.โ
Furthermore, Circle Account holders can now leverage Euro Coin liquidity on Avalancheย (AVAX) for a variety of uses, including cryptocurrency trading, lending, custody and for making or accepting payments.
Circle asย ofย now maintains two fiat-based cryptoย stablecoins including USD Coin, which tracks the Unitedย States dollar with a marketย cap of almost $29 billion. Euro Coin has a significantly lower marketย capitalization at $48 million, reportsย by CoinGecko data.ย
