Circle adds Solana to list of chains used by EURC stablecoin

Stablecoin issuer Circle has launched its euro-backed digital currency on the Solana SOL -1.10% blockchain.

"EURC is well positioned to radically enhance utility across peer-to-peer transfers and European remittance corridors," the company said in a statement. "Developers and users can now build and transact across both EURC and USDC on Solana for faster, lower-cost ways to send, spend and save money worldwide."

Adding Solana to the mix now brings the number of blockchains EURC utilizes to four. Circle's euro-backed coin also uses  Avalanche, Ethereum and Stellar.

"The launch of EURC on Solana marks a significant step towards a more efficient, inclusive and user-centric financial ecosystem," Rachel Mayer, Circle’s VP of product management said in the statement. "Users will also be able to securely hold savings in euro without the need for a traditional bank account."

Apps ready to go

Circle also said that apps like Jupiter Exchange, Meteora, Orca, and Phoenix are ready to support EURC on Solana. 

"We’re excited to support Circle’s EURC on Solana and usher in an era of deep euro liquidity on-chain," Jupiter co-founder Ming Ng said in a statement. "In addition to USDC, Jupiter will now provide simple, aggregated access to EURC for both users as well as leading wallets, exchanges, GameFi apps, and NFT platforms across the Solana ecosystem."

Jupiter's decentralized exchange aggregator is one of the most significant projects on Solana, with a trading volume nearly $1 billion  in October.