Circle Internet Financial has introduced Euro Coin (EUROC), a euro-backed stablecoin designed to operate under the same full-reserve model as its USD Coin (USDC). Euro Coin is fully backed by euros held in euro-denominated banking accounts, making it always redeemable 1:1 for euros. This stablecoin aims to enhance digital banking and foreign exchange by offering 24/7 availability and near-instant transactions, addressing the relatively low circulation of euro-denominated stablecoins compared to dollar-denominated ones. Euro Coin is intended to be accessible to individuals, businesses, exchanges, and institutional traders, facilitating euro liquidity on-chain and expanding opportunities in the crypto ecosystem. The stablecoin is set to launch on Ethereum on June 30th, with plans for future expansion to other blockchains, and it will be available for minting through Circle Accounts and trading on digital asset exchanges and DeFi protocols.