Circle Internet Financial has announced the launch of its euro-backed stablecoin EURC on the Solana blockchain. This expansion of stablecoin on Solana, the fourth blockchain to support it natively, aims to improve the utility of peer-to-peer transfers and European transfer corridors. The EURC stablecoin operates on a full reserve model, guaranteeing a redemption value of 1:1 for the euro. It enables faster and cheaper cross-border transactions than traditional methods.
The EURC stablecoin on Solana
Decentralized finance (DeFi) applications and Solana-based digital wallets, such as Jupiter Exchange, Meteora, Orca and Phoenix, have added their support to stablecoin, enabling users to carry out foreign exchange, trading, borrowing and lending transactions with stablecoin around the clock. Circle plans to make EURC a regulated electronic money token in accordance with European Union regulations.
Circle Internet Financial has deployed its stablecoin EURC on the Solana blockchain to improve foreign exchange transactions and fund transfers. The company said EURC is expected to be a regulated e-money token in line with European Union regulations. The EURC stablecoin backed by the euro is now available on the Solana blockchain, known for its fast, low-cost transactions and support for several ecosystem applications.
Decentralized finance (DeFi) applications and Solana-based digital wallets, such as Jupiter Exchange, Meteora, Orca and Phoenix, have added their support to stablecoin, enabling users to carry out foreign exchange, trading, borrowing and lending transactions with stablecoin around the clock.
A stablecoin backed by the euro
EURC stablecoin operates on a full reserve model, guaranteeing a redemption value of 1:1 for the euro. It enables faster and cheaper cross-border transactions than traditional methods. Circle plans to make EURC a regulated electronic money token in line with European Union regulations.
The expansion of stablecoin on Solana
The EURC stablecoin is now available on the Solana blockchain, the fourth blockchain to support it natively. Decentralized finance (DeFi) applications and Solana-based digital wallets, such as Jupiter Exchange, Meteora, Orca and Phoenix, have added their support for stablecoin, enabling users to carry out foreign exchange, trading, borrowing and lending transactions with stablecoin around the clock.
Launch of Circle’s EURC stablecoin on Solana, paving the way for DeFi opportunities
Circle Internet Financial has launched its euro-backed stablecoin EURC on the Solana blockchain, the fourth blockchain to support it natively. The EURC stablecoin operates on a full reserve model, guaranteeing a redemption value of 1:1 for the euro. Decentralized finance (DeFi) applications and Solana-based digital wallets have added their support to stablecoin, enabling users to carry out foreign exchange, trading, borrowing and lending transactions with stablecoin around the clock. Circle plans to make EURC a regulated e-money token in line with European Union regulations.
