Euro Coin (EURC) is a fully-reserved, euro-backed stablecoin issued by Circle, the same company behind USD Coin (USDC). Launched in June 2022, EURC is designed to bring the stability and trust of the euro to the digital asset ecosystem. Each EURC token is backed 1:1 by euros held in regulated financial institutions, making it a reliable and transparent option for cross-border payments, trading, and decentralized finance (DeFi) applications. Unlike algorithmic or crypto-collateralized stablecoins, EURC is fully fiat-collateralized and issued under a framework that prioritizes compliance, liquidity, and transparency. Circle publishes regular attestation reports from third-party auditors to verify that the circulating supply is fully backed by euro reserves. EURC initially launched on the Ethereum blockchain as an ERC-20 token, and has since expanded to other blockchains including Avalanche and Stellar, with plans for additional multichain support. This makes EURC interoperable with a broad range of DeFi protocols, crypto exchanges, and wallet services. EURC enables real-time euro settlement and is especially useful for institutional and retail users seeking to transact in euros without relying on traditional banking hours or systems. As a programmable digital currency, EURC supports smart contract integrations and can be used in lending, remittances, trading, and more, all while staying tethered to the value of the euro.
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