Circle, the stablecoin issuer, has introduced its euro-backed digital currency, EURC, on the Solana blockchain.
This move aims to enhance utility for peer-to-peer transfers and European remittance corridors, providing developers and users with the ability to transact across both EURC and USDC on Solana.
“EURC is well positioned to radically enhance utility across peer-to-peer transfers and European remittance corridors,” the company said in a statement. “Developers and users can now build and transact across both EURC and USDC on Solana for faster, lower-cost ways to send, spend and save money worldwide.”
EURC already utilizes Avalanche, Ethereum, and Stellar blockchains, making Solana the fourth addition.
Rachel Mayer, Circle’s VP of product management, emphasized the launch’s significance in fostering a more efficient, inclusive, and user-centric financial ecosystem.
Users can securely hold Euro savings without a traditional bank account. Apps like Jupiter Exchange, Meteora, Orca, and Phoenix are set to support EURC on Solana, with Jupiter’s decentralized exchange aggregator playing a key role in the Solana ecosystem.
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