# EURC > EURC is a euro-backed stablecoin issued by Circle, designed for stability and compliance with MiCA regulations, offering global accessibility across multiple bl... - Canonical URL: https://iq.wiki/wiki/eurc - Categories: Cryptoassets - Created: 2025-04-14T18:10:29.074Z - Last updated: 2025-10-13T18:25:55.689Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **EURC** is a euro-backed [stablecoin](https://iq.wiki/wiki/stablecoin) issued by [Circle](https://iq.wiki/wiki/circle) that maintains a 1:1 [peg](https://iq.wiki/wiki/currency-peg) with the euro through a full-reserve model, providing a digital representation of the euro on [blockchain](https://iq.wiki/wiki/blockchain) networks. [\[1\]](#cite-id-iVkYkVlOFt) ![](https://ipfs.everipedia.org/ipfs/QmbNPSpggghtpqCWcRWQ1CdukmZ4cketeS8jbGJ53Rv9G1) ## Overview EURC is a [fiat](https://iq.wiki/wiki/fiat-money)-backed [stablecoin](https://iq.wiki/wiki/stablecoin) issued by [Circle](https://iq.wiki/wiki/circle) and pegged to the euro at 1:1. It follows a full-reserve model, with all tokens backed by euro-denominated assets held at regulated financial institutions within the European Economic Area. These reserves are regularly audited and publicly reported, with third-party verification provided by Grant Thornton LLP. The token was first launched on [Ethereum](https://iq.wiki/wiki/ethereum) as an [ERC-20](https://iq.wiki/wiki/erc-20) token and has since expanded to [blockchains](https://iq.wiki/wiki/blockchain) including [Solana](https://iq.wiki/wiki/solana), [Avalanche](https://iq.wiki/wiki/avalanche), [Base](https://iq.wiki/wiki/base), [Stellar](https://iq.wiki/wiki/stellar), and [Polygon](https://iq.wiki/wiki/polygon). EURC complies with the Markets in Crypto-Assets Regulation (MiCA), ensuring regulatory alignment in the EU. EURC facilitates euro-denominated [liquidity](https://iq.wiki/wiki/pol-protocol-owned-liquidity) in [crypto](https://iq.wiki/wiki/cryptocurrency) markets, serving as a stable pair for trading and a store of value during volatile conditions. It is active on [centralized](https://iq.wiki/wiki/cex-centralized-exchange) and [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange) and supports [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) activities and peer-to-peer transfers without requiring access to traditional financial systems. [\[1\]](#cite-id-iVkYkVlOFt) [\[10\]](#cite-id-9nArTZQf0v) ### History EURC is a euro-backed [stablecoin](https://iq.wiki/wiki/stablecoin) issued by [Circle](https://iq.wiki/wiki/circle), a financial technology company founded in 2013 by [Jeremy Allaire](https://iq.wiki/wiki/jeremy-allaire) and [Sean Neville](https://iq.wiki/wiki/sean-neville). [Circle](https://iq.wiki/wiki/circle) was among the first to receive a “BitLicense” from the New York Department of Financial Services in 2015, enabling it to operate regulated digital asset services in New York. Initially focused on peer-to-peer fiat payment solutions, [Circle](https://iq.wiki/wiki/circle) later offered [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) wallets and investment services, which were eventually discontinued. The company shifted its focus toward stablecoins, launching [USDC](https://iq.wiki/wiki/usdc) in 2018 on [Ethereum](https://iq.wiki/wiki/ethereum). [USDC](https://iq.wiki/wiki/usdc) expanded to several [blockchains](https://iq.wiki/wiki/blockchain), including [BNB Chain](https://iq.wiki/wiki/binance-smart-chain), [Polygon](https://iq.wiki/wiki/polygon), [Avalanche](https://iq.wiki/wiki/avalanche), and [Solana](https://iq.wiki/wiki/solana). [Circle](https://iq.wiki/wiki/circle) introduced Euro Coin (EURC) on [Ethereum](https://iq.wiki/wiki/ethereum) in June 2022, marking its entry into euro-denominated [stablecoins](https://iq.wiki/wiki/stablecoin). By early 2023, [EURC](https://iq.wiki/wiki/eurc) had surpassed €25 million in market capitalization. [\[10\]](#cite-id-9nArTZQf0v) ## Features ![](https://ipfs.everipedia.org/ipfs/QmbQBAsxJQVhZWrNkrx3sUM5AKmNfCaRS8DouZ83NRBbNn) EURC supports multi-chain transfers and conversions via [Circle](https://iq.wiki/wiki/circle) Mint, enabling interoperability [across](https://iq.wiki/wiki/across) supported networks. When paired with other [stablecoins](https://iq.wiki/wiki/stablecoin) like [USDC](https://iq.wiki/wiki/usdc), it is commonly used in [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) for euro-based trading, lending, borrowing, and real-time foreign exchange markets. Businesses can use EURC for euro-denominated financial services, fast cross-border payments, and storing value in euros. Its smart contract structure follows the same framework as USDC, simplifying integration for developers building applications on supported blockchains. [\[2\]](#cite-id-fYJ0dP9ml1) [\[6\]](#cite-id-5z3JViTuIx)