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Circle announced that EURC, its euro-backed stablecoin, is now available on the Base mainnet for developers and users. Circle Mint and its APIs support financial institutions in minting and redeeming EURC on Base, enabling global commerce with trust and compliance.
According to a press release by Circle, Base, an Ethereum Layer 2 network, aims to drive global on-chain innovation and economic freedom. With the launch of EURC, a euro-backed stablecoin from Circle, and its compliance with the EU's new Markets in Crypto Assets (MiCA) regulation, businesses and developers can now use EURC on Base for trading, lending, payments, and more. Key partners supporting EURC's launch include Aerodrome, Coinbase, Coinbase Wallet, and Uniswap Labs.
USDC, Circle’s dollar-backed stablecoin, was introduced on Base last year and has become the largest stablecoin on the network. According to Circle's press release, USDC has nearly $3 billion in circulation and a 97% market share. Over 250 apps on Base support USDC, including Aave, Aerodrome, and Uniswap. These apps power diverse use cases like cross-border payments, decentralized finance (DeFi) activities, and access to stable value stores in euros and dollars.
