Coinbase to Offer Direct Euro and EuroC Swap, Consolidating Euro Stablecoin Market
CryptoNewsTerminal Staff22 Aug, 2024
Coinbase to Offer Direct Euro and EuroC Swap, Consolidating Euro Stablecoin Market
Coinbase, one of the leading cryptocurrency exchanges, has announced that it will begin offering direct swapping between the Euro (EUR) and Circle's Euro-pegged stablecoin, EURC, starting from August 28th. This move is expected to streamline the Euro stablecoin market and provide users with greater flexibility. In addition to the 1-to-1 EUR-EURC swap, Coinbase will also launch a EURC-USDC order book on August 29th. This will allow users to trade directly between the Euro-pegged stablecoins and the US dollar-pegged stablecoin, USDC. The exchange will delist the existing EURC-EUR and EURC-USD listings to consolidate the Euro stablecoin market. The integration of EURC into Coinbase's platform is a significant step for the adoption of Euro-pegged stablecoins. It provides users with a convenient and secure way to hold and trade Euros on the blockchain, without having to worry about the volatility of the cryptocurrency market.
