Circle Rolls out New Euro Stablecoin on Ethereum Network - BitcoinEthereumNews.com
Ethereumसर्किल ने एथेरियम नेटवर्क पर नया यूरो स्टेबलकॉइन लॉन्च किया06 / 17 / 2022बिटकॉइन एथेरियम समाचार Global payments company Circle anounced Thursday it is rolling out a new stablecoin dubbed Euro Coin (EUROC) to facilitate on-chain transactions and extend the accessibility and use cases of the Euro currency. Circle Unveils EURO-Pegged Stablecoin Circle, the issuer of the United States dollar-pegged stablecoin USDC, said the new euro-backed stablecoin is pegged to the euro at 1:1. Circle also noted that the new stablecoin is backed by a 100% reserve of the fiat euro currency, which will be held in leading financial institutions, begining with the U.S.-based Silvergate Bank. This is different from USDC, which is pegged to the USD through cash deposits and U.S. Treasury Bonds. According to Jeremy Allaire, the CEO of Circle, EURC will come under the same regulatory umbrella as USDC. This entails that Euro Coin reserves will be attested monthly by accounting firm Grant Thornton LLP. According to the company, EUROC is built on the एथेरम मेननेट and will be available to users from June 30. For now, the stablecoin will only be accessible through a Circle account and Silvergate Exchange Network (SEN). However, once its fully launched, Euro Coin will be available on