Circle Launches EURC on Solana for European Remittances

13 views 7:40 am 0 Comments December 19, 2023

As the leading euro-backed stablecoin, EURC’s goal is to lead European remittance corridors.

With this development, Solana became the fourth blockchain to host EURC natively. Joining the ranks of Avalanche, Ethereum, and Stellar. Let’s discover more about this important news.

EURC on Solana: Circle Expands Stablecoin Reach in Europe

The integration allows seamless building and transactions across both EURC and USDC on the Solana network. This will offer faster and cheaper solutions for global money transfers. Circle Mint’s institutional-grade on and off-ramps empower businesses to effortlessly convert EUR to and from EURC.

This will generate applications within the Solana ecosystem for foreign exchange and financial services, with the added benefit of near-zero cost payments.

Plans are underway for EURC to achieve full conformity with the Markets in Crypto-Assets (MiCA) regulation as an e-money token when the new European regime comes into effect. This ensures that developers and users leveraging EURC on Solana can continue to expect top-notch regulatory compliance, fortifying their confidence in the stability and security of the stablecoin.

With this expansion to Solana, Circle not only broadens the reach of EURC but also reinforces its mission to create a seamless and efficient global financial ecosystem. This will connect users and businesses with innovative financial solutions on a rapidly expanding set of blockchain platforms.

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