Circle Will Introduce Euro Coin To Solana Early In 2023

In the first half of 2023, payments company Circle will add Euro Coin to the Solana blockchain and extend its cross-chain protocol there.

Circle Will Introduce Euro Coin To Solana Early In 2023 3

As a European version of its well-known stablecoin USDC, Circle only introduced Euro Coin in June. The same principles apply to Euro Coin, which is tied to the euro rather than the dollar. Currently, it is operational on the Ethereum blockchain.

When it launches on Solana, FTX will add support for the Euro Coin, according to a statement from Circle. Other decentralized finance protocols have shown interest in supporting the stablecoin when it starts, according to Circle.

“The availability of Euro Coin on Solana unlocks new use cases for instant FX, provides optionality for traders with a new base currency, allows for Euro Coin lending and borrowing, and will be available alongside USDC as a payment currency in Solana Pay,” said Sheraz Shere, head of payments at Solana Labs.

Circle also intends to include Solana in the scope

Circle Will Introduce Euro Coin To Solana Early In 2023 4

This protocol was unveiled in September and is scheduled to launch on Ethereum and Avalanche at the start of 2023. In the first part of 2023, Circle plans to deliver it to Solana.

Crypto projects can transfer USDC between blockchains via the cross-chain transfer protocol. Instead than employing wrapped tokens, it employs versions of the stablecoin that are native to each chain.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.