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A euro stablecoin backed by full reserves

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Built to a higher standard

Euro Coin (EUROC) is issued by Circle under the same full-reserve model as USD Coin (USDC), a trusted dollar digital currency with more than $50 billion in circulation.1  

Designed for stability, Euro Coin is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros.

  1. As of September 16, 2022
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A new era for FX & digital finance

Euro Coin is a euro-backed stablecoin that’s available 24/7 and moves at internet speed. Together, Euro Coin and USDC unlock new possibilities for multi-currency digital finance and near-instant foreign exchange, where daily volume in traditional markets can top $6.6 trillion globally.2

Who it’s for

Euro Coin is available to anyone with an internet connection, enhancing access to the euro across borders and time zones.
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Exchanges

Enable customers to convert local fiat currency to Euro Coin and offer access to new digital asset trading pairs and near-instant stablecoin FX.

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Institutional traders

Make markets with Euro Coin and take advantage of arbitrage opportunities across digital asset exchanges and the crypto ecosystem.

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Businesses

Accept Euro Coin payments to expand your customer base and get faster cash flow. Make payments globally to suppliers, vendors, and employees with funds that can settle in minutes.

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Ecosystem

Pay for goods and services at participating merchants, transfer money quickly across borders, and use Euro Coin throughout the innovative Web3 ecosystem.

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Live on Ethereum

Euro Coin is available from the Circle Account and supported by a growing number of ecosystem leaders, including:

Exchanges: BitMart, Bitpanda, CEX.io, FTX, HitBTC

dApps: Curve, DFX, Uniswap Protocol

Custodians: Anchorage Digital, CYBAVO, Fireblocks, Hex Trust

Payments: BitPay

Wallets: Ledger, MetaMask, MetaMask Institutional

Developers can easily integrate with the Euro Coin smart contract and tap into growing liquidity.

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Stability you can trust

Euro Coin is fully-backed by euros in euro-denominated banking accounts held at leading financial institutions, so that it is always redeemable 1:1 for euros.

Each month, Grant Thornton LLP, one of America's largest audit, tax and advisory firms, provides third-party assurance as size of the Euro Coin reserve.

Access Euro Coin straight from the source

  1. Link your bank account to your Circle Account
  2. Deposit euros via wire transfer* into your Circle Account and receive Euro Coin
  3. Send Euro Coin on-chain to an exchange or allocate to dApps
Open a free Circle Account
*Wire transfer functionality is in beta; currently supports EUR-to-EUR transfers only
 

Stay up-to-date on the future of Euro Coin

Complete the form to hear about what’s next for Euro Coin. We’ll keep you updated via email on key milestones, including new blockchain launches, additional supporting exchanges, and integration with Circle’s Payments and Payouts products.

FAQ

Businesses can mint Euro Coin by depositing euros into a Circle Account via wire transfer or Euro SEN. To redeem Euro Coin, businesses can deposit Euro Coin into a Circle Account and withdraw euros via wire transfer or Euro SEN.

Euro Coin will also be accessible through our exchange partners as liquidity builds in the ecosystem. Exchanges will enable users and businesses to convert euros to Euro Coin, trade for Euro Coin, and withdraw Euro Coin to Ethereum-compatible wallets to participate in the crypto ecosystem.

Euro Coin is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros. Businesses can use a free Circle Account to mint and redeem Euro Coin at no additional cost. Circle aims to bring Euro Coin to many of the world’s leading blockchains for broad ecosystem support and interoperability. Existing blockchain ecosystem partners who have built and integrated with Circle and USDC should find it easy to adopt and use Euro Coin.

Yes. As an Ethereum ERC-20 standard token, Euro Coin works broadly with ERC-20 compatible wallets, protocols and other blockchain services.

We expect to launch Euro Coin on additional blockchains later this year. The future is multi-chain.

Circle is the sole issuer of Euro Coin.

Circle holds euros in euro-denominated banking accounts at leading financial institutions, beginning with Silvergate Bank in the U.S.

Yes, Grant Thornton LLP issues monthly attestations of the Euro Coin reserve and Circle publishes the attestation reports on this webpage. Each month’s report comes at the end of the following month (e.g. June’s report is published at the end-of-July). Circle’s financial statements, which will include the Euro Coin reserve, are audited annually and filed with the SEC.

Circle assumes the interest rate risk on Euro Coin reserves, just as we do with USDC.

  1.  
  2. Troy Segal. “Forex Market: Who Trades Currencies and Why”. Investopedia. August 18, 2021. Retrieved May 25, 2002 from: https://www.investopedia.com/articles/forex/11/who-trades-forex-and-why.asp#