Home » Ethereum » Circle launches euro-based stablecoin on Avalanche blockchain

Sablecoin publisher Circle launched euro coins (Euroc) on the avalanche, a move aimed at providing real estate developers and customers with faster and more efficient payment and financial information services.

In an announcement sent to Cointelegraph, the Circle elite team indicated that the launch was part of their multi-chain strategy for Europe. The research team shows that the use of the euro in an avalanche increases its liquidity and provides users with a choice of trading in the stable currency dollar coins (USDC) backed by the euro rather than the dollar.

The stable currency publisher launched the euro last year as a regulated stable currency backed entirely by euro reserves. This means that in US-regulated financial companies, each euro token will also have an equivalent euro escrow.

Joao Reginatto, senior vice president of Circle in charge of new products, said the launch of the euro makes it possible for everyone to make better use of the euro. Reginato explained:

"when we first introduced euro coins on Etherum last year, I hoped that anyone with an Internet connection could use the euro across national boundaries and time zones."

According to Reginato, sending OTP to an avalanche gives developers and users a more cost-effective sense of their financial investments. The administrative logistics staff felt that this created a new probability for payment and remittance.

Robert Nahas, senior vice president of market development at Ava Labs, predicts that euro coins will get effective feedback on the Avalance blockchain. According to Nahas, decentralized finance (Defi) has expanded to a living environment with a large number of currencies and cross-border e-commerce, and the addition of the euro will speed up "worldwide selection".

In addition, Circle recently launched an agreement to allow the cross-chain transmission of USDC between avalanches in Taihe County. On April 26th the research team launched an agreement to burn coins on the publisher chain and forge new coins on the recipient chain. This is very different from the traditional wireless bridge that simply locks the OTP to the contract.

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