According to official announcements, USDC issuer Circle has revealed plans to launch Euro Coin (EUROC), a regulated stablecoin backed by the euro, on the Ethereum blockchain on June 30. Euro Coin will follow the same full-reserve model as the dollar-pegged stablecoin USDC, being 100% backed by euro-denominated reserves and redeemable at a 1:1 ratio for euros. Developers can now begin integrating the Euro Coin smart contracts, and starting June 30, 2022, institutional clients will be able to use Euro Coin through free Circle accounts. Anchorage Digital, Binance.US, Bitstamp, Compound, Curve, CYBAVO, DFX, Fireblocks, FTX, Huobi Global, Ledger, MetaMask Institutional, and Uniswap Protocol will support Euro Coin at launch.
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