Yugocean
Valued Contributor
Circle launched $EUROC, a stablecoin for the euro that has been in the news since its launch on June 30, there is no clear decision among the people regarding this.
Although there was a demand by European crypto enthusiasts for Euro based stable coin, and even Tether launched one, Circle's stablecoin is a competitor there.
$EUROC is described by Circle as a stablecoin based entirely on the model of reserves, similar to Tether, which means this crypto has almost as much reserves of Euro as it is in circulation.
Since the collapse of the UST and the depeg of the USDD, algorithmically-backed stablecoins have fallen out of confidence, therefore, a reserve-based currency is being circulated for investors, but it is not yet known how many reserves this $EUROC holds.
Some are skeptical of $EUROC, $USDC, the dollar-based stablecoin previously issued by Circle. Circle CEO Jeremy Allaire is trying to win people's trust in social media
Although there was a demand by European crypto enthusiasts for Euro based stable coin, and even Tether launched one, Circle's stablecoin is a competitor there.
$EUROC is described by Circle as a stablecoin based entirely on the model of reserves, similar to Tether, which means this crypto has almost as much reserves of Euro as it is in circulation.
Since the collapse of the UST and the depeg of the USDD, algorithmically-backed stablecoins have fallen out of confidence, therefore, a reserve-based currency is being circulated for investors, but it is not yet known how many reserves this $EUROC holds.
Some are skeptical of $EUROC, $USDC, the dollar-based stablecoin previously issued by Circle. Circle CEO Jeremy Allaire is trying to win people's trust in social media
