Starting August 28, Coinbase will offer conversions between the euro and the EURC stablecoin at a 1:1 ratio in selected regions.
EURC, which mirrors the euro’s value, is compliant with the European Union’s Markets in Crypto Assets (MiCA) regulation, similar to how USDC is tied to the US dollar.
The new feature on Coinbase Advanced will allow fee-free conversions. On August 29, Coinbase will introduce an EURC-USDC order book while discontinuing the EURC-EUR and EURC-USD order books.
The move aims to streamline conversions and trading between fiat currencies and stablecoins.
Although dollar-pegged stablecoins are prevalent, euro-pegged stablecoins are significant in the market.
Euro-pegged stablecoins account for about 92% of all stablecoins on Ethereum, excluding those pegged to the dollar.
Chainlink co-founder Sergey Nazarov predicts that tokenized real-world assets (RWAs) will soon surpass cryptocurrencies in value.
Australia’s central bank has decided to prioritize the development of a wholesale central bank digital currency (CBDC) over a retail version.
Circle has announced that it will now support local bank transfers for USDC in Mexico and Brazil, using the countries’ real-time payment systems PIX and SPEI.
CEX.io, a centralized cryptocurrency exchange, has unveiled a new integration with financial services firm MoneyGram and the Stellar blockchain.