A stablecoin pegged to the euro EURC from the issuer Circle will be launched on the Stellar (XLM) blockchain. The initiative will improve the efficiency of money circulation channels in Europe, cross-border payments, as well as capital management processes and the distribution of humanitarian aid, blockchain developers said at the annual Stellar Meridian conference in Madrid.
URC is an ERC-20 token, it was launched on June 30 last year on the Ethereum blockchain, and has also supported the Avalanche network since May of this year. Initially, the asset was called Euro Coin and had the ticker EUROC, since September of this year it It has there is only one name similar to the ticker – EURC.
In June 2023, German software giant SAP began using EURC to test cross-border payments.
The market capitalization of the asset, according to the CoinGecko aggregator for September 26, exceeds $52.84 million, the daily trading volume is more than 1.1 million.
In August, Stellar developers opened the source code of their own payment platform, which can be used for micropayments, settlements with suppliers, salary payments and humanitarian aid.
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