Coinbase Abruptly Adds Support for Circle\'s Euro-Pegged Stablecoin

Top US-based crypto exchange platform Coinbase is abruptly adding support for a stablecoin pegged to the Euro from Circle, the issuer of USDC.

Major US crypto exchange Coinbase is quietly adding support for a stablecoin pegged to the Euro from Circle, the issuer of USDC.

In a new thread on social media platform X, Coinbase Assets says that the company will begin supporting Euro Coin (EURC) on January 20th.

“Coinbase will add support for EURC on the Ethereum network (ERC-20 token) and trading will begin on 20 June 2024 at or around 3PM ET. Do not send this asset over other networks or your funds may be lost.”

According to Coinbase, EURC will be added to the crypto exchange with an experimental label, a designation created by the crypto exchange for riskier and more volatile digital assets.

Coinbase adds that Euro Coin is undergoing a name change that is taking longer than expected, disrupting service. The stablecoin's token is being renamed from EUROC to EURC.

“The renaming of Euro Coin (EUROC) to EURC is taking longer than expected. We apologize for these delays, but rest assured your funds are safe and our teams are working as quickly as possible to restore full service.”

Circle first launched Euro Coin on June 30, 2022 over the Ethereum (ETH) blockchain but later expanded to other crypto assets, including Solana (SOL) and Stellar (XLM).

Featured Image: Shutterstock/Pattern Trends

News source：https://www.kdj.com/cryptocurrencies-news/articles/coinbase-abruptly-adds-support-circle-europegged-stablecoin.html

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