Coinbase, a leading global cryptocurrency exchange, has announced the integration of EURC, a stablecoin pegged to the euro issued by Circle. Starting August 28, Coinbase Advanced users will be able to instantly and fee-free convert their euros to EURC and vice versa.
What is EURC and why is it important?
EURC is a cryptocurrency designed to maintain a stable value equal to 1 euro, just like USDC is to the dollar. The integration of EURC on Coinbase takes on particular importance for several reasons:
- Regulatory compliance as EURC has recently been approved as fully compliant with MiCA (to date only it and USDC have obtained this approval)
- Scalability: integrated with Coinbase's Base blockchain, EURC benefits from faster and cheaper transactions than Ethereum.
- Access to new DeFi services: EURC can be used to access a wide range of DeFi services built on the Ethereum blockchain such as flash lending, farming, token swaps, synthetic derivatives, etc.
In conclusion, thanks to MiCA and the integration on Coinbase, a "prosperous" future is expected for the stablecoin anchored to the Euro which, together with USDC, could become one of the most used in the European market.
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