Circle launched a new stablecoin on the Avalanche blockchain

Circle, a stablecoin issuer, launched Euro Coin (EUROC) on Avalanche, stated Cointelegraph. This step is expected to enable users to make efficient and quick transactions and get developed financial services, stated Cointelegraph.

As reported by Cointelegraph, Circle mentioned this step is part of its multi-chain strategy for Euro Coin. It also mentioned that the availability of Euro coin on Avalanche might be able to increase the liquidity and provide users with the scope of exchanging euros along with USD Coin (USDC), its USD-based stablecoin, Cointelegraph added.

According to Joao Reginatto, vice president of products, Circle, the addition of this token on Avalanche will allow users and developers to have a “more cost-effective” financial transactions, Cointelegraph highlighted.