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Circle Issues Euro-Backed Stablecoin EURC Natively on the Solana Blockchain

Stablecoin issuer Circle Internet Financial said its euro-backed stablecoin EURC is live on the Solana (SOL) blockchain, which is known for cheap, speedy transactions and the support of multiple ecosystem applications. Solana-based decentralized finance (DeFi) apps and digital wallets including Jupiter Exchange, Meteora, Orca and Phoenix have added support for the stablecoin, allowing users around-the-clock foreign-exchange transactions, trading, borrowing and lending with the token. "EURC is well positioned to radically enhance utility across peer-to-peer transfers and European remittance corridors," Circle said Monday. Stablecoins, a $130 billion asset class.

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