A euro stablecoin backed by full reserves
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 $55 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.
- As of June 30, 2022
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
Enable customers to convert euros to Euro Coin and offer access to new digital asset trading pairs and near-instant stablecoin FX.
Make markets with Euro Coin and take advantage of arbitrage opportunities across digital asset exchanges and decentralized finance (DeFi).
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.
Now live on Ethereum
Euro Coin is now available from Circle Account and will be supported by a growing number of ecosystem leaders, including:
Exchanges: BitMart, Bitpanda, HitBTC
DeFi: DFX, Uniswap Protocol
Custodians: Anchorage Digital, CYBAVO, Fireblocks
Wallets: Ledger, MetaMask, MetaMask Institutional
As liquidity builds in the ecosystem, trading will begin on exchanges. More exchanges and DeFi protocols are expected to support Euro Coin in mid-July, including: Binance.US, Bitget, Bitmark, Bitstamp, Blockchain.com, Bybit, Compound, Curve, Huobi Global, and FTX.
Developers can easily integrate with the Euro Coin smart contract and tap into growing liquidity.
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 to the size and composition of the Euro Coin reserves.
Access Euro Coin straight from the source
- Link your bank account to your Circle Account
- Deposit euros via wire transfer into your Circle Account and receive Euro Coin
- Send Euro Coin on-chain to an exchange or allocate to DeFi
Businesses can mint and redeem Euro Coin with a Circle Account connected to Silvergate’s Euro SEN network. Additional deposit options are expected later this year.
Euro Coin will also be accessible through our exchange partners as liquidity builds in the ecosystem. Exchanges will enable people and businesses to convert euros to Euro Coin, trade for Euro Coin, and withdraw Euro Coin to Ethereum-compatible wallets to participate in DeFi.
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 will be issuing monthly attestations of Euro Coin reserves, starting with an attestation for the month of June 2022. Circle will publish the attestation reports on this webpage, with June’s report being available to view online by the end of July 2022. 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.