Circle's Euro-Pegged Token EURC Surpasses €50 Million Market Cap

EURC, a Euro-pegged stablecoin by Circle, the issuer of USDC, has reached a market cap of over €50 Million ($55.37 million). According to Patrick Hansen, Circle’s Senior Director, EU Strategy & Policy, the stablecoin has experienced significant growth, registering a 36% increase in its issuance due to its recent launch on base, a Coinbase incubated Ethereum L2, and also an uptick on ethereum. Hansen explained this makes EURC the largest Euro stablecoin still trading, given that its AEUR counterpart, issued out of Switzerland, halted issuance and redemption due to its relation with Flowbank, which filed for bankruptcy in Switzerland.