Sun, July 14

Coinbase Adds Circle Issued Euro Coin (EUROC) Stablecoin

Exchange News
  • The EUROC was added to the exchange’s listing roadmap earlier this month. 
  • Circle has launched a stablecoin which is pegged in value to the Euro at a 1:1 ratio.

The Euro-backed stablecoin EUROC is now available on Coinbase. Circle mints Euro Coins, which are completely backed by the Euro. In addition, it enters the cryptocurrency market at a time of heightened tension. Between stablecoin producers and the Securities and Exchange Commission (SEC) of the United States.

Since customers of Coinbase have been waiting for the Euro stablecoin. The EUROC was added to the exchange’s listing roadmap earlier this month. Coinbase also states that the asset satisfies its “legal, compliance, and technical security” requirements.

Delisting of BUSD and Addition of EUROC

Concerns were raised when the Binance Stablecoin (BUSD) was delisted by Coinbase. After then, the trading platform unveiled Crypto435 to defend the cryptocurrency sector against further regulatory intervention.

Earlier last month, the stablecoin appeared on the exchange listing roadmap, and today, that listing finally materialized. Notably, Circle has launched a stablecoin which is pegged in value to the Euro at a 1:1 ratio. 

It was also noted in the road plan that these benchmarks do not take into consideration the market cap or popularity of the initiative.  The goal of the exchange is to ensure that all assets are valued equally based only on their conformance to the technical criteria established by the market.

The SEC’s recent attack on cryptocurrencies, in which it declared that all cryptocurrencies excluding Bitcoin are securities, has also been met with community pushback. Coinbase has now stepped out to advocate for a pro-crypto policy in all 435 congressional districts in the United States, as per the most recent information provided by the exchange.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.