EURC is a fully backed euro stablecoin created to bring the reliability of the euro to the blockchain. Issued by Circle, the same team behind USDC, EURC allows users to send, spend, and save digital euros across decentralised finance (DeFi) platforms. It was built to make global payments faster, cheaper, and more transparent by combining the stability of fiat currency with the advantages of blockchain technology.
Launched to meet growing demand for euro-based digital assets, EURC is available on leading blockchains like Ethereum. As a stablecoin, it maintains a one-to-one peg to the euro and is backed by euro reserves.
Stablecoins like EURC are useful because they offer some of the benefits of cryptocurrencies, such as fast transfers and global access, while also offering the benefits of the fiat currency it’s pegged to.
Who created EURC?
EURC was created by Circle, a regulated fintech company based in the United States. It is best known for launching USDC, one of the largest dollar stablecoins in the world. Circle launched EURC to bring a fully-backed euro stablecoin to the blockchain space.
Their goal was to provide a stable and transparent payment solution for global users, bringing together everyday finance and blockchain technology with a stable and trustworthy digital euro.
How does EURC work?
EURC functions as a fully backed euro stablecoin that maintains a constant 1:1 value with the euro. Circle holds matching euro reserves in regulated financial institutions, ensuring transparency and trust.
EURC operates on Ethereum and other major blockchains, enabling fast, low-cost, and transparent euro transfers around the world. Because it’s a stablecoin, EURC avoids the price swings of other cryptocurrencies, making it ideal for payments, savings, and trading in DeFi.
With its focus on transparency, stability, and ease of use, EURC bridges the gap between traditional finance and blockchain.
What is the difference between EURC and USDC?
Both are stablecoins issued by Circle, but they are pegged to different currencies. USDC is tied to the US dollar. EURC is tied to the euro. Depending on where you live or what you are buying, one may be more useful than the other. In both cases, the goal is to make money move faster and more securely on the internet.
What is EURC’s native cryptocurrency?
The native cryptocurrency of the EURC ecosystem is EURC. As a stablecoin, it holds a fixed value equal to one euro and is backed by actual euro reserves.
Merchants can accept EURC for payments without requiring a traditional euro bank account, while traders can swiftly convert between crypto assets and euros without leaving the blockchain.
EURC serves as a stable digital asset for everyday use, cross-border payments, and participation in DeFi. It enables fast, low-fee global transfers, allowing users to send EURC worldwide in seconds. By combining fiat stability with blockchain performance, EURC offers a secure and accessible way to transact in euros on-chain.
Additionally, EURC can provide a stable savings option for individuals in countries with volatile currencies.
Tip
Keen to explore EURC a bit more? You can learn about EURC basics and get all the latest cryptocurrency news on Luno Discover.
Want to know how to buy, sell, send, or receive EURC? We’ve got answers in the following help articles:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.