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Top US crypto exchange platform Coinbase is abruptly adding support for a stablecoin pegged to the euro from Circle, the issuer of USDC.
In a new thread on the social media platform X, Coinbase Assets say that the company will support Euro Coin (EURC) on January 20.
“Coinbase will add support for EURC on the Ethereum network (ERC-20 token) and trading will begin on June 20, 2024 at or around 3:00 PM ET. Do not ship this item via other networks or your money may be lost.”
According to Coinbase, EURC will be added to the crypto exchange with an experimental label, a designation established by the crypto exchange for riskier and more volatile digital assets.
Coinbase goes further remark that Euro Coin is undergoing a name change that is taking more time than originally expected, hampering service. The stablecoin’s token will be renamed from EUROC to EURC.
“Renaming Euro Coin (EUROC) to EURC is taking longer than expected. We apologize for these delays, but please rest assured that your money is safe and our teams are working as quickly as possible to restore full service.”
Circle initially launched Euro Coin on June 30, 2022 via the Ethereum (ETH) blockchain, but later expanded to other crypto assets, such as Solana (SOL) and Stellar (XLM).
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Featured image: Shutterstock/Patroontrends
