EUROC will be available alongside USDC as a payment currency in Solana Pay.
USDC issuer Circle announced plans to expand native support of its Euro-backed stablecoin – Euro Coin – to the Solana blockchain in the first half of 2023.the availability of EUROC on Solana will set the scene for new use cases for instant foreign exchange, offering optionality for traders with a new base currency while enabling lending and borrowing with the stablecoin.At launch, FTX will support deposits, withdrawals, and trading of Euro Coin on Solana.
This protocol is slated to launch at the beginning of 2023 on Ethereum and Avalanche. Its expansion to Solana is expected to complete in the first half of the year. The company said Wormhole had expressed intention to support the protocol’s implementation on Solana at launch.Speaking about the multi-currency strategy for a stablecoin, Joao Reginatto, VP of Product at Circle, noted that such an optionality and multi-chain availability makes liquidity accessible easily.
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