Circle launches its euro stablecoin on Solana

L’EURC from the issuer of stablecoins American Circle lands on Solana. The token backed by theeuro was already available on several networks.

This Monday, Circle announced the launch of stablecoin EURC on the blockchain network Solana.

The leading digital currency backed by the euro is now on Solana, enabling real-time global payments and 24/7 foreign exchange″, the blockchain fintech wrote on its blog.

Launched in the summer of 2022, EURC, formerly EUROC, had already been offered on Ethereum, Avalanche and Stellar since September.

With Circle Mint’s fiat ramps, businesses can easily convert euros to and from EURC, according to the announcement. A number of DApps, including Jupiter Exchange, Meteora and Orca, have integrated the Solana version of the stablecoin backed by the European currency.

“In addition to USDC, Jupiter will now provide simple, aggregated access to EURC for users as well as the leading wallets, exchanges, GameFi apps and NFT platforms in the Solana ecosystem,” commented Ming Ng, Jupiter’s co-founder.

Earlier this year, Circle announced plans to expand its operations in Europe, with France in its sights. Most recently, the firm headed by Jeremy Allaire partnered with Japanese group SBI to boost adoption of its stablecoin dollar in the archipelago.

EURC currently has a market cap of $55 million. Other existing euro stablecoins include Société Générale’s EUR CoinVertible, Tether’s EURT and Anchored Coins EUR, recently listed on Binance.

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