Circle EUROC now on Avalanche

Initially launched on Ethereum, the stablecoin euro from Circle becomes multi-chain with a deployment on the blockchain network Avalanche.

Circle announced Thursday the launch of its stablecoin Euro Coin (EUROC) on Avalanche to offer “increased access” to liquidity in euros.

By launching Euro Coin on Avalanche’s fast and efficient platform, we can help developers and their users experience near-instant, more profitable financial transactions and unlock new possibilities for 24/7 payments, money transfers and foreign exchange″, commented Joao Reginatto, VP products at Circle, in a statement.

According to John Nahas, VP Commercial at Ava Labs, the arrival of theEuro Coin on the network Avalanche opens up new horizons for developers and users. “We continue to see strong adoption and volume behind Circle’s USDC on Avalanche, and expect to see great use of theEuro Coin “he said.

According to the announcement, applications already supporting EUROC on Avalanche include Coinbase Wallet, Curve, Metamask and Platypus.

Circle is now looking to establish its euro-backed stablecoin in Europe. In March, the US crypto fintech filed applications in France to become both a licensed electronic money institution and a registered digital asset service provider.

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