Coinbase Lists Euro-Backed Stablecoin EUROC: What You Need to Know
Coinbase, America’s biggest cryptocurrency exchange, has officially listed the Euro-backed stablecoin, $EUROC, on its exchange for users. This move marks a significant step in expanding access to Euro-denominated digital assets within the Coinbase ecosystem. The stablecoin was previously listed on the exchange listing roadmap, signaling its imminent arrival.
According to a recent announcement by Coinbase on Twitter, the exchange will add support for Euro Coin (EUROC) on the Ethereum network (ERC-20 token). This allows users to seamlessly trade and interact with EUROC within the decentralized finance (DeFi) landscape.
What is Euro Coin (EUROC)?
EUROC is a stablecoin pegged to the euro, meaning its value is designed to remain relatively stable against the euro. This offers users a more stable alternative to volatile cryptocurrencies when trading or storing value. Coinbase announced today that it added EUROC to its trading platform, providing a new option for users looking to diversify their portfolio.
EUROC on Coinbase: Availability and Trading
Customers at top US crypto exchange Coinbase can now trade their digital assets with this euro-backed stablecoin. EUROC appears to be the first euro-pegged stablecoin that is fully supported by Coinbase, expanding its offerings beyond USD-backed options. Now available for trading, EUROC provides users with a convenient way to access euro-denominated digital assets.
EUROC vs. Competing Stablecoins Like Stasis Euro
While other Euro-pegged stablecoins exist, like Stasis Euro, EUROC's listing on Coinbase provides it with significant visibility and accessibility. According to Coinbase’s listing pages, EUROC benefits from the exchange's established user base and robust infrastructure, potentially giving it an edge over competing stablecoins. This listing signals Coinbase's commitment to providing diverse options for its users in regions where they seek Euro-denominated exposure.