Coinbase Launches Euro Coin (EUROC) for Trading

02/22/2023 22:38 • Daily Digest • 71 views

On February 22, according to the official news, Coinbase will launch the Euro Coin (EUROC). If the liquidity conditions are met, the transaction will start at 9:00 p.m. on February 22, Pacific Winter Time (1:00 p.m. on February 23, Beijing Time). If sufficient asset supply is established, the EUROC-USD and EUROC-EUR trading pairs will be opened for trading in stages. Coinbase only supports EUROC on the Ethereum network. In some jurisdictions, EUROC transactions may be restricted. The euro stable currency, EUROC, was issued by Circle on Ethereum on June 30. It is 100% backed by euro-denominated reserves and can be converted into euros at a ratio of 1:1.

Coinbase will launch Euro Coin

Interpretation of the news:

Coinbase, the popular cryptocurrency exchange, is set to launch the Euro Coin (EUROC) for trading on February 22. According to the official news, the trading of EUROC will begin at 9:00 p.m. on February 22, Pacific Winter Time (1:00 p.m. on February 23, Beijing Time), subject to the liquidity conditions being met. The exchange will support EUROC only on the Ethereum network, and if sufficient asset supply is established, trading pairs EUROC-USD and EUROC-EUR will be opened in stages.

EUROC is a euro stable currency that was issued by Circle on Ethereum on June 30, 2020. It is fully backed by euro-denominated reserves and can be converted into euros at a ratio of 1:1. This makes EUROC a stable and secure cryptocurrency that has low volatility compared to other cryptocurrencies.

Coinbase’s decision to launch EUROC indicates that euro stablecoins are becoming more popular in the cryptocurrency market. As the use of cryptocurrencies increases, there is a growing demand for more stable coins that can serve as a reliable store of value and a means of payment.

It is worth noting that in some jurisdictions, EUROC transactions may be restricted. This could be due to regulatory issues or legal restrictions in certain countries. However, Coinbase will ensure that its customers are aware of any restrictions and comply with any relevant laws and regulations.

In conclusion, Coinbase’s launch of EUROC demonstrates the increasing popularity of stablecoins in the cryptocurrency market. As the use of cryptocurrencies becomes more mainstream, stablecoins are likely to play an important role in facilitating transactions and increasing liquidity. With its 1:1 conversion ratio, EUROC is a reliable and secure cryptocurrency that provides traders with a stable store of value and a means of payment.

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Coinbase Launches Euro Coin (EUROC) for Trading

Coinbase will launch Euro Coin

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