Circle’s CEO Jeremy Allaire announced the launch of the company’s second major fiat-pegged crypto-asset called euro coin (EUROC). Allaire mentioned that the new EUROC token is already live on the Ethereum network and will be “available to mint from June 30th.”

Circle which is the USD Coin (USDC) issuer gave details on the EUROC, stating that it is fully regulated and will follow the same compliance framework as USDC.

The Circle CEO believes a stablecoin pegged to the Euro will help expand payment opportunities and on-chain Foreign exchange, as there is a clear market demand for a digital currency denominated in Euros, which will also improve trade finance and commerce as well.

EUROC already has support from Wallets Exchanges, Defi Apps, and Custodians. Some of which include Binance US, Bitstamp, FTX, Curve, Compound, Uniswap, and custodians like Anchorage Digital, e.t.c.

Featured image source: The Defiant.