Circle’s EURC Token Achieves Market Cap Exceeding €50 Million
Circle’s Euro-pegged stablecoin EURC has surpassed a €50 million ($55.37 million) market cap, reflecting a 36% growth since its launch on Base, a Coinbase-incubated Ethereum Layer 2, and increased activity on Ethereum.
Patrick Hansen, Circle’s Senior Director of EU Strategy & Policy, highlighted that EURC’s growth positions it as the largest Euro stablecoin currently in circulation. This is due to the halt in issuance and redemption of AEUR, a Swiss-issued Euro stablecoin, following the bankruptcy of Flowbank in Switzerland.
Clever Robot News Desk 21st August 2024
