Stablecoins need not mean dollars: EURC’s move onto Stellar
Circle expanded its euro-backed token to Stellar in 2023, adding another currency option for blockchain payments and wallet services.
From the archive · 26 Sept 2023
A retrospective written for Chain Perspective. It describes the source at that date and does not imply current availability or status.
Reported development: · AI-assisted, source-linked brief
In brief
- Stellar became the third network supporting Circle’s euro stablecoin.
- The announcement identified wallet access through Ripio.
The development
Circle announced EURC on Stellar in September 2023, extending its euro-backed stablecoin beyond its previous networks. The company described EURC as backed by euro reserves and redeemable on a one-for-one basis. It identified Ripio as the first wallet provider adding EURC on Stellar, including euro deposit and withdrawal functionality. Other uses, such as aid distribution, were presented as opportunities rather than completed universal integrations.
Why it matters
A digital payment can be fast while still exposing someone to an unwanted currency conversion. Euro-denominated tokens address a different need from dollar tokens for people whose expenses or accounts are in euros. This does not remove issuer, access or network considerations. The useful question is which currency a payment represents and how its recipient can use it. The historical announcement alone does not establish present-day wallet eligibility or redemption access.
Sources and verification
Based on an official announcement
Based on the dated primary source. This retrospective does not establish current availability or subsequent outcomes.
- EURC Launches on the Stellar Network ↗Circle · Primary document · 26 Sept 2023
Prepared with AI assistance from the linked sources. This is not a claim of independent field reporting or human review. How we publish · Report a correction
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