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.

Recent Posts

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

4 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

24 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

40 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

1 hour ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

2 hours ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

This website uses cookies.