Circle Announces a Euro-backed Stablecoin Euro Coin

Circle, issuer of $USDC, announced that it is preparing to issue a fully-reserved, euro-pegged stablecoin called Euro Coin ($EUROC). Euro Coin will initially launch on the Ethereum blockchain starting on June 30, with support for additional blockchains expected later this year. Euro Coin will be available to institutional customers via a free Circle Account starting June 30, 2022. Developers can begin integrating with the Euro Coin smart contract today, ahead of the official launch.