Coinbase will enable 1:1 conversion between the euro and MiCA-compliant stablecoin EURC on August 28

Starting August 28, Coinbase will offer fee-free conversions between the fiat euro and the euro-pegged stablecoin EURC across supported jurisdictions. This initiative aims to simplify transitions between fiat and stablecoin currencies.

EURC and MiCA Compliance

EURC is pegged to the euro, mirroring how USDC is linked to the U.S. dollar. The stablecoin complies with the European Union's Markets in Crypto Assets (MiCA) regulation, ensuring its operations align with recent legal standards.

New Order Book Listings

Coinbase will launch a new EURC-USDC order book on August 29, replacing its existing EURC-EUR and EURC-USD order books. The move is intended to streamline trading between fiat and stablecoins.

Dominance of Euro-Pegged Stablecoins

While dollar-pegged stablecoins lead the market, euro-pegged stablecoins like EURC represent the majority of non-USD stablecoins. They account for approximately 92% of all non-USD stablecoin supply on Ethereum.

Multi-Blockchain Integration

EURC operates on five blockchains, including Avalanche, Ethereum, Solana, Stellar, and Base, ensuring widespread access and integration.