The stablecoin giant Circle has once again made global headlines by revealing plans to introduce EURC, its first euro-backed stablecoin, to Base, an L2 (layer 2). This mover comes as an effort to jack up developers in delivering faster and cheaper commerce with a euro-backed digital currency for global users.
Notably, EURC now joins USDC, the largest stablecoin on the Base network that boasts a $3 billion circulation as of July 9. Base is a layer two blockchain brought by Coinbase to enhance Ethereum’s scalability and speed.
Base Welcomes EURC
In compliance with the new MiCA (Markets in Crypto Assets) regulation, Circle becomes the first global stablecoin issuer to bring EURC and USDC to Base. The introduction of EURC primarily brings the trust and compliance needed for a euro equivalent on-chain. Concerning this, Circle appears to have made monumental strides with the introduction of USDC last year and now EURC.
The introduction of the abovementioned stablecoins on Base brings a ple
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