What is EURC? | Circle’s Euro stablecoin explained

EURC is a fully-backed euro stablecoin created by Circle, the same company behind USDC. Just as USDC is pegged to the US dollar, EURC is pegged to the euro. This means one EURC is always intended to be worth one euro.

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.

How is EURC backed?

Each EURC token is backed one to one with real-world assets. Circle holds a mix of cash and short-term European government bonds in regulated financial institutions to make sure every EURC can be redeemed for euros. These reserves are regularly audited, and Circle publishes reports to keep things transparent.

Who created EURC?

Circle is 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 built EURC to bring the same level of transparency and trust to euro-based digital money.

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 used for?

EURC is a stablecoin designed for holding, sending, or using euros on the blockchain, offering a range of practical applications. 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. It enables fast, low-fee global transfers, allowing users to send EURC worldwide in seconds.

Additionally, EURC can provide a stable savings option for individuals in countries with volatile currencies. Built on blockchains like Ethereum and Avalanche, EURC integrates with decentralised apps and smart contracts, enabling innovative ways to earn, invest, or automate financial activities.

Useful tools

Circle website
Circle on X

*Investing in crypto assets may result in the loss of capital as the value can fluctuate.

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.