EURC

EURC is a stablecoin issued by Circle, the issuer of USDC, and designed to be pegged one-to-one to the euro; it was formerly called Euro Coin. Each EURC is intended to be backed by euro-denominated cash and similar liquid reserves held by Circle, and the token can be redeemed for euros by users with eligible accounts. The token is issued natively on many networks, including Ethereum, Solana, Base, Avalanche and Stellar.

Under MiCA, the European Union's crypto-asset regulation, Circle offers EURC as an e-money token compliant with this framework through the electronic money institution license it obtained in France. EURC is used in euro-denominated payments, foreign exchange swaps and as euro liquidity in decentralized finance applications. On some decentralized exchanges, swaps between USDC and EURC are seen as a way of converting between euros and dollars on-chain.

On this page, Lzzo.com shows DefiLlama's US dollar reference price for EURC; the chart is also drawn from the same source's historical data. For this reason, the dollar value on the page changes with movements in the euro-dollar exchange rate even if the token stays pegged to the euro. Whether the peg holds depends on the adequacy and transparency of the reserves, how the redemption process works, risks related to banking partners and regulatory decisions.