TechFlow News — On August 1, Circle announced that its EURC stablecoin has officially launched on Base and is now available for developers and users to mint and redeem. EURC is among the first stablecoins compliant with the European Union’s new Markets in Crypto-Assets (MiCA) regulations. Key partners include Aerodrome, Coinbase, and Uniswap Labs, supporting a range of use cases:
- Cross-border payments, enabling near-instant international transfers, peer-to-peer transactions, and merchant payments, significantly reducing transaction costs.
- Access to crypto capital markets, supporting 24/7 trading, lending, and financing to drive a robust DeFi ecosystem.
- Providing users with euro- and dollar-denominated value storage to hedge against local currency inflation risks.
Last year, Circle launched USDC on Base, which has since become the largest stablecoin on the network, with nearly $3 billion in circulation and a 97% share of the stablecoin market on Base. As of July 2024, Base ranks fifth among all blockchains in terms of stablecoin market capitalization.
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