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Circle Introduces EURC Stablecoin on Stellar Blockchain

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Circle has launched its euro-backed stablecoin, EURC, on the Stellar blockchain, making it the third network where EURC is integrated, alongside Ethereum and Avalanche. EURC on Stellar will facilitate low-cost, near-instant transactions and integrate with aid disbursement and cash assistance systems. This move is expected to enhance European remittance corridors, cross-border payments, treasury management, and aid disbursement. Additionally, Latin American crypto services provider Ripio is expanding to Spain and adding EURC on Stellar to its in-app crypto wallet for euro deposits and withdrawals, enabling faster and cheaper transactions for users. Stellar's native cryptocurrency, XLM, experienced a 1.2% decline in the past 24 hours.