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2024 — The Year of Solana? USDC Issuer Circle Deployed EURC On Solana
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EURT is delisted as well. USDC and EURC are MICA compliant.
Rotation of funds from one stablecoin to another. Both USDC and EURC are considered MiCA compliant
We will either use USDC/EURC or trade USDT through DEX
The dominance of MiCA-compliant stablecoins in the European market has led to a significant shift in trading volumes, with euro-denominated transactions surpassing previous records. Notably, MiCA compliance has enabled these stablecoins, like Circle's EURC and Société Générale's EURCV, to capture over 90% of the market share, contrasting with the challenges faced by non-compliant stablecoins like Tether. * [MiCA-compliant stablecoins dominate European market — Kaiko](https://cointelegraph.com/news/mi-ca-compliant-stablecoins-dominate-european-markets-kaiko) * [MiCA is Reshaping EUR Stablecoin Markets](https://research.kaiko.com/insights/mica-is-reshaping-eur-stablecoin-markets) ^(Hey there, I'm not a human \(sometimes I am :\) \). I fact-check content here and on other social media sites. If you want automatic fact-checks and fight misinformation on all content you browse,) [^(check us out.)](https://critiquebrowser.app)
tldr; As cryptocurrency adoption grows in Europe, MiCA-compliant stablecoins are capturing a significant market share. A report by Kaiko and Bitvavo highlights the expansion of euro-denominated trading volumes, which consistently exceeded 2023 averages in 2024. The euro has become the third most-traded fiat currency in crypto, with stablecoins adapting to new regulations. MiCA regulations have reshaped the stablecoin landscape, with Circle’s EURC, Societe Generale’s EURCV, and Banking Circle’s EURI holding 91% of the market share by November 2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Coinbase will restrict European users from trading certain stablecoins, including Tether (USDT), starting December 13, to comply with the Markets in Crypto-Assets (MiCA) regulatory framework. Other stablecoins like PAX, PYUSD, GUSD, GYEN, and DAI will also be delisted for being MiCA noncompliant. However, Coinbase will continue to support Circle's USDC and EURC, as Circle has secured a European stablecoin license under MiCA laws. Tether has not publicly responded to the delisting, and its future in Europe remains uncertain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
It's EURT no? Tether have provided details of their reserves backing Tether. Has USDC and EURC?
Yes, EURC. Although it's not really like Tether, since it's actually backed up 1:1 with fiat.
tldr; Coinbase is set to delist Tether's USDT and five other stablecoins in Europe on December 13 due to non-compliance with the European Markets in Crypto-Assets Regulation (MiCA). This move affects Coinbase Europe, Coinbase Germany, and Coinbase Custody International. While USDT is a significant asset on Coinbase, accounting for over 12% of trades, the exchange will continue supporting USD Coin (USDC) and EURC. Tether has criticized some MiCA regulations and is working on compliant solutions for the European market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
If you are in EU, and want to invest in stablecoin you have to invest in USDC or EURC, because of the MiCA. If you want to invest in BTC or another coin, choose one, just be aware of possible depreciation as well as appreciation. You can always buy anything OTC, if you don’t want to use official exchange.
and why not in EUR-backed stablecoin, such as EURC?
EURC, or Euro Coin, is a stablecoin that’s pegged to the euro, so its value doesn’t swing around like other cryptos. It's less risky in terms of price changes, but it’s still crypto, so there are other risks like the platform it’s on or potential regulatory issues. It’s mainly used for trading or storing value rather than for big gains, so if you’re looking for growth, it’s not really the same as more volatile coins like Bitcoin.
EURC, or Euro Coin, is a stablecoin that’s pegged to the euro, so its value doesn’t swing around like other cryptos. It's less risky in terms of price changes, but it’s still crypto, so there are other risks like the platform it’s on or potential regulatory issues. It’s mainly used for trading or storing value rather than for big gains, so if you’re looking for growth, it’s not really the same as more volatile coins like Bitcoin.
mr. chatgpt, what about EURC?
I am sure EURC is going to do it too.
To answer your questions: it’s super smooth, and low fees as it’s built on Stellar. Currently the drawbacks are limited assets due to ramped limits on Stellars new smart contract platform, and limited assets on Stellar generally. However USDC and EURC are available with liquidity, as well as XLM. These dynamics will change in the short term as the protocol ramps up infrastructure and product offerings.
"Starting **December 13, 2024**, Coinbase will restrict services for **USDT, PAX, PYUSD, GUSD, GYEN, and DAI** for retail customers in Europe under MiCA regulations. Affected users can: 1. Sell or convert these assets to USDC or EURC (which are MiCA-compliant). 2. Transfer the restricted stablecoins to self-custody wallets before the deadline. After this date, trading, custody, and receiving these assets on Coinbase will be unavailable. The platform may reintroduce services for compliant stablecoins in the future." So you either sell those coins before the deadline or take them into self-custody before the deadline
It would be great for USDC & EURC have stable coins in Apple wallets, alongside BTC and ETH. That’s it.
Same here but funny thing is that I started with DAI thanks to Coinbase rewards. Then also used UST but avoided the crash and now after MiCA, using EURC after long time using USDT and USDC.
Yeah, I’ve come across mixed opinions about EURS. If you're looking for safety, EURC seems to be the more reliable choice right now, especially if you’re concerned about anything controversial or high-risk. It’s always good to stack up on solid options before making a big move, especially in the volatile world of crypto.
The *safest* for euro backed stable coins would be EURC. Anything else is high risk right now
I think it could become at some point reserves to back different currencies. Treasuries will eventually be worthless. But the digital version of political currencies hopefully not cbdc will be the form of money. Like USDC EURC and so forth. These are backed by treasuries. I can see Bitcoin being a common reserve.
Will this be available for EU citizens? Maybe for EURC and EURi?
with EUR i’m sure you can trade 1:1 for EURC, maybe with USD rules has changed recently
Algorand are supporting third parties to build the stablecoins & exchanges required for on chain FX. There are already several stablecoins. Algorand has native atomic swaps which are perfect for FX exchange so the Herstatt risk is eliminated. There are a few interesting projects building things which may enable more on chain FX by adding more stablecoin usecases. Immersve + Pera Wallet + Mastercard are enabling stablecoins to be used to make mastercard payments. Some mainnet transactions for USDC have already been seen. Public live is expected soon. The way Immersve have built their smart contracts will allow them to extend to other stablecoins. I can see EURC being the next one due to the Eurozone having relatively clear regulation about how to handle stablecoins in the MiCA legislation. Immersve have said public payments in the eurozone will be available this year. The UN + Circle + Hesabpay. Is one that intrigues me. Hesab pay was a phone based payment system serving Afghanistan originallty used by the UN to distribute aid payments. This was seen as a success and now many payments for goods and services can be made. The UN consider it a success and now plan to roll it out to Afghanistan, Yemen, Syria, Libya, Sudan and Somalia. I am not sure how closely Circle are involved maybe they plan to use USDC instead of a Hesabpay created stablecoin for these geographies where the monetry systems can be complex. In Yemen for example only coins/notes created before 2017 are accepted in the north but all are accepted in the south. There are crypto based lending platforms like Folks Finance and CompX too where decent returns can be made on USD and Euro stablecoins. As the stablecoins variety currencies increases FX will naturally increase too. It will give customers a cheaper alternative to highstreet currency exchange with lower fees and spreads.
I get being a little paranoid but this level of paranoia, to the point it’s affecting your mental health, is unnecessary man. Use a Cypherock Wallet for cold storage, keep using air-gapped wallets, and just don’t do anything sketchy on your computer and you’ll be safe. If it makes you feel better, you can convert it all to USDC/EURC.
>I bet someone will enjoy playing with arbitrage now. USD-USDC-EURC-EUR Been doing this with EURS and EURD on Algorand for a bit already. Would be nice to be able to direcly ramp it through Coinbase instead of having to convert to USDC first.
Base will be probably free for both USDC and EURC.
The question is on what networks is EURC supported as native token.
They can just do a new EURC coin then ;)
It's almost never 1:1, but this opens up a nice arbitrage window. E.g. I buy some EURC for lower than the conversion on coinbase, and sell it for more, #profit
MiCA is forcing exchanges in Europe to comply with their rules. I am 100% sure that they want to force all of them to use EURC instead of USDC. It basically gives power to EUR.
EURC is MiCA regulated, there is a digital euro already live
tldr; Circle has received the first regulatory approval in the European Union for its stablecoin under the Markets in Crypto-Assets (MiCA) framework. This marks a significant milestone for regulatory clarity in the digital asset sector. Circle's USDC and EURC stablecoins are now compliant with new EU regulations, providing reassurance to investors. Circle also announced France as its European headquarters, highlighting the importance of MiCA for the legitimacy and stability of stablecoins. Despite lagging behind Tether's USDT in market share, this approval could boost demand for USDC in Europe and globally. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Nice. So both are on Algo. But we miss some liquidity for EURC on defi protocol on any chains
The only correct answer. USDC and EURC is also natively issued on Stellar by circle and supported by licensed on/off ramps like moneygram.
Also need to make sure that the fees to off/ on ramp or buy EURC is correct when in calculating PnL btw
I'm curious about the advantage of a EURC over USDC I mean, if it is stable, does it matter? I suspect "exchange rate" will be part of it, but you aren't spending. Just holding
BTC : Self-custody cold wallet GBP : Custodial FSCS-insured bank account For BTC I use a Trezor Safe 3. Brilliant that. For Bitcoin only, the BitBox02 is another great option. I'm less trusting of Ledger but using any cold wallet is definitely preferably to keeping coins on a CEX or in a hotwallet. For GBP you have to store in physical cash or custody with a bank. Aside from physical cash, there isn't really a self-custody option. Good luck pulling out 0.5 BTC in cash though lol. As long as the Current account is FSCS insured, seems safe enough to me. That said, gov'ts have been known to seize fiat – see Greece in 2008 – so I hold some fiat in EURC or USDC on the blockchain. Downside is both float against GBP. Poundtoken doesn't yet have sufficient support to make me trust it. I can be verbose; let me know if you want more info. Cheers
tldr; The article discusses Circle's deployment of Euro Coin (EURC) on the Solana blockchain, expanding its native support and access to the Cross-Chain Transfer Protocol (CCTP). This move aims to bring faster, inexpensive transactions to global commerce and unlock new opportunities for multi-currency digital finance and on-chain foreign exchange. The integration of EURC on Solana is seen as a significant step forward in the world of digital finance, enhancing its utility and expanding the capabilities of the Solana blockchain. This development is expected to drive the adoption of blockchain technology and create more efficient and innovative applications. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
CBDCs on public blockchains won't be adopted. Not as fiat, at least. Maybe the dollar. Everything else is useless, like EURC(Circle) and EURT(Tether) proved. Little to no adoption.
USDC and hopefully EURC once adopted on more exchanges.
I don’t always use stablecoins. But when I do, it’s USDC. Circle seems transparent enough and I hope that their EURC project will take off.
tldr; Circle Internet Financial has released an open-source smart contract codebase called Perimeter Protocol, which aims to serve as a foundation for building tokenized credit markets. The protocol can support various credit use cases, including invoice factoring, payroll advances, instant settlement for merchants, and credit trading for institutional investors. Circle Research, the company's new division dedicated to open-source development, has also been launched. Tokenization of real-world assets is gaining momentum, with the potential to disrupt the existing financial system. Stablecoins, such as Circle's USDC and EURC, play a crucial role in blockchain-based lending markets. The release of Perimeter Protocol is expected to facilitate tokenization efforts and the development of decentralized finance (DeFi) credit platforms. OpenTrade's yield-generating tokenized U.S. Treasury pool is the first offering developed using Perimeter. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Here are the top news in Crypto from yesterday: 🌕 SEC delays decisions on Ark, Global X spot Bitcoin ETFs amid potential government shutdown; new deadlines are Jan. 10 and Nov. 21. 🌕 House Financial Services Committee urges SEC Chair Gary Gensler to approve pending Spot Bitcoin ETFs, citing no reason for denial. 🌕 Starting Oct. 16, JPMorgan Chase UK will ban crypto transactions due to rising crypto scams, impacting bank transfers and debit cards. 🌕 Celestia allocates 6% of TIA tokens for airdrop to devs and addresses in its upcoming modular data availability network. 🌕 Bitboy Crypto's Ben Armstrong released on bail after arrest; fallout with former partners suspected; BEN tokens drop 30%. 🌕 Paradigm launches Policy Lab for crypto advocacy, aiming to bridge gaps between policymakers, academics, and technologists. 🌕 Binance and MUFG unit to study issuing stablecoins in Japan, aiming for a 2024 launch, as Binance re-enters the Japanese market. 🌕 Circle introduces its euro stablecoin, EURC, on Stellar, expanding availability beyond Ethereum and Avalanche for more user options. 🌕 Leaked documents reveal Microsoft's plans to integrate a crypto wallet into Xbox, potentially allowing value creation in games. 🌕 Kraken secures licenses in Spain and Ireland, expanding euro-to-crypto trading and offering exchange and wallet services.
Here are the top news in Crypto for the past 24 hours: 🌕 SEC delays decisions on Ark, Global X spot Bitcoin ETFs amid potential government shutdown; new deadlines are Jan. 10 and Nov. 21. 🌕 House Financial Services Committee urges SEC Chair Gary Gensler to approve pending Spot Bitcoin ETFs, citing no reason for denial. 🌕 Starting Oct. 16, JPMorgan Chase UK will ban crypto transactions due to rising crypto scams, impacting bank transfers and debit cards. 🌕 Celestia allocates 6% of TIA tokens for airdrop to devs and addresses in its upcoming modular data availability network. 🌕 Bitboy Crypto's Ben Armstrong released on bail after arrest; fallout with former partners suspected; BEN tokens drop 30%. 🌕 Paradigm launches Policy Lab for crypto advocacy, aiming to bridge gaps between policymakers, academics, and technologists. 🌕 Binance and MUFG unit to study issuing stablecoins in Japan, aiming for a 2024 launch, as Binance re-enters the Japanese market. 🌕 Circle introduces its euro stablecoin, EURC, on Stellar, expanding availability beyond Ethereum and Avalanche for more user options. 🌕 Leaked documents reveal Microsoft's plans to integrate a crypto wallet into Xbox, potentially allowing value creation in games. 🌕 Kraken secures licenses in Spain and Ireland, expanding euro-to-crypto trading and offering exchange and wallet services.
tldr; Circle has launched a native euro stablecoin, EURC, on the Stellar network. Previously only available on Ethereum and Avalanche, EURC now provides more options for Eurozone residents to conduct business on the blockchain in their local currency. Crypto payment provider Ripio has integrated with EURC on Stellar, allowing users in Spain to deposit and withdraw the stablecoin. This move aims to encourage more Spanish users to adopt crypto as a payment method. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
is the EURC stablecoin news true? and its on stellar network so its gonna be cheap and stable