Circle launches stablecoin Eurc on Stellar Network! A few weeks ago, Circle had announced an initiative regarding the Stellar network. On Tuesday, Circle announced the launch of its Euro-backed stablecoin, Circle Stablecoin Eurc, on the Stellar blockchain.

The company said in its statement, “EURC can be send, spend, hold, and trade anywhere in the world 24/7 with low-cost, almost instant transactions.” Stellar is the third chain, following the Ethereum and Avalanche networks.

EURC will integrate with assistance payment and cash aid systems like Stellar Aid Assist. Moreover, Circle stated that it will work alongside Stellar to securely provide financial aid to those affected by humanitarian crises that severely impact local services.

Vice President of Circle Product Management, Rachel Mayer, also mentioned; “The launch of EURC on Stellar has the potential to radically improve European remittance corridors, cross-border payments, treasury management, and aid payments.”

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Cheaper and Faster

Circle noted that crypto service provider Ripio in Latin America has expanded to Spain. Along with this, the company indicated that it would add EURC to its in-app crypto wallet through a partnership, allowing users to make euro deposit and withdrawal transactions.

Co-Founder of Ripio, Sebastian Serrano, expressed his excitement, stating; “We are thrilled that people in Spain now have seamless access to digital assets like EURC and can enjoy faster and cheaper transactions worldwide.”

According to CoinMarketCap data, the price of Stellar’s native crypto asset XLM is currently at $0.1115, with the highest being $0.1129 and the lowest at $0.1109 in the last 24 hours.

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