What is Euro Coin (EUROC)?
Euro Coin (EUROC) is a stablecoin issued by Circle Finance and pegged to the Euro (EUR). Thus, the EUROC price is pegged to the Euro at a 1:1 ratio. This means that, unlike the volatile price of many other coins, the Euro Coin price might be a point of comfort for potential buyers. Every EUROC token is backed by one EUR held in a euro-denominated account that is regulated by US laws.
The EUROC coin follows the same premise as the USD Coin (USDC), another stablecoin introduced by Circle Financial.
Use Cases of Euro Coins
Like many other cryptocurrencies, but notably stablecoins, Euro Coin creates new opportunities for inexpensive, quick, and secure international financial transactions. It enables European businesses and individuals to send and receive payments in their own currency from anywhere in the world.
Euro Coin enables businesses to accept crypto payments in euros from customers anywhere in the world, regardless of whether they are based within the eurozone or not, because the EUROC price is equal to the value of the Euro. Besides, businesses can use Euro Coin to pay employees, vendors, and contractors with cryptocurrency, as well as to reward devoted customers with discounts or rewards.
However, the simplicity and convenience of executing transactions with Euro Coin benefit more than just businesses. Individual people may also effortlessly send and collect Euro Coin payments amongst family and friends.
Besides, note that EUROC is an ERC-20 token that was created on the Ethereum platform. This implies that it can be used with any ERC-20-compatible wallet, platform, or other blockchain services.
Who Founded Euro Coin?
As mentioned before, Euro Coin is issued by Circle. The latter was founded by Jeremy Allaire and Sean Neville. Allaire has decades of experience in developing international software platforms. Before Circle, he held top management positions in prominent companies such as Macromedia and Brightcove.
