EURC – Euro‑Backed Stablecoin by Circle
1. Overview
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Stablecoin: EURC
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Issuer: Circle Internet Financial, the company behind USDC
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Blockchain: Available on Ethereum, Avalanche, Base, Solana, and Stellar
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Launch: June 2022
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Type: Fiat-backed stablecoin, redeemable 1:1 for euros
2. Use Case
EURC is designed for:
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Fast, low-cost euro-denominated payments and remittances
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Cross-border settlements for businesses and financial institutions
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On-chain DeFi applications, such as lending and FX trading
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Easy chain interoperability and automated euro<>USDC swaps
3. Governance & Compliance
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Issued by Circle, compliant with the MiCA regulation via a French EMI license
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Reserves held in euro-denominated bank accounts within the EEA
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Monthly attestations published and verified by a Big Four accounting firm
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Circle also submits EU-wide and SEC filings
4. Customer Feedback & Reputation
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No Trustpilot presence (institutional product)
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Positively reviewed by S&P Global, Circle users, and market analysts
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S&P Global’s report confirms strong peg resilience (<1.5% deviation) and high liquidity on-chain
5. CU Background Check
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EURC launched by Circle, which has a consistent record for regulatory compliance
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Holds a French EMI license as of July 2024 and complies with MiCA
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Reserve audits are conducted by Grant Thornton
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Monthly attestations match circulating EURC to bank-held euros
6. Crypto-Economics
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Minting/redemption via Circle Mint
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Peg maintained at €1 through fiat redemptions and market arbitrage
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Available on several L1s and L2s with deep liquidity
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On-chain tools like block explorers track issuance and transactions in real time
7. Backing & Value Stability
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100% euro-backed, with reserves held in licensed European banks
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Attestation reports confirm parity with circulating EURC
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S&P Global analysis shows strong value stability
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Peg deviations are minimal due to direct mint/redeem access for institutions
8. Final CyberFinance Compliance Rating
| Category | Rating | Notes |
|---|---|---|
| Authorization | 🟢 GREEN | MiCA-compliant via French EMI license |
| Transparency | 🟢 GREEN | Audits, attestations, public documentation |
| Customer Feedback | 🟢 GREEN | Positive institutional reputation |
| Financial Soundness | 🟢 GREEN | Fully backed by euros in licensed banks |
🟢 Final Rating: GREEN SIGNAL
📌 Ratex42 Summary
EURC is Europe’s most transparent and regulated stablecoin. Built by Circle, backed 1:1 by euros, and compliant with MiCA, it is ideal for institutional players, Eurozone payments, and cross-border digital commerce.
