Coinbase to Offer MiCA-Compliant EURC Conversions Starting Aug. 28
Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...
Cryptocurrency exchange Coinbase has announced that it will offer seamless conversions between the Еuro and the euro-pegged stablecoin, EURC, starting Aug. 28.
According to The Block’s article from Aug. 22, the upcoming feature will allow Coinbase users to easily swap euros for EURC at a 1:1 ratio on the Coinbase Advanced platform. This conversion will be fee-free, making it a convenient and cost-effective option for those looking to access the benefits of stablecoins.
EURC is an ERC20 token issued by stablecoin issuer Circle, the same company behind USDC, a digital stablecoin pegged to the United States (U.S.) dollar. EURC is compliant with the European Union’s Markets in Crypto Assets (MiCA) regulation and is backed by euro reserves held at regulated financial institutions within the European Economic Area (EEA).
EURC runs on five blockchains – Avalanche (AVAX), Ethereum (ETH), Solana (SOL), Stellar (XLM) and Base.
By aligning with MiCA regulations, Coinbase aims to provide a safe and compliant trading platform for European users.
In conjunction with the EURC conversion, Coinbase will also launch a new EURC-USDC order book on Aug. 29. This will replace the existing EURC-EUR and EURC-USD order books.
The integration of EURC further solidifies Coinbase’s position as a leading player in the European cryptocurrency market. According to the exchange, as demand for euro-pegged stablecoins continues to grow, this new feature is expected to attract more users looking to exchange euros for U.S. dollars or vice versa, and enhance the
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