Top US-based 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 says that the firm will begin supporting Euro Coin (EURC) on January 20th.
“Coinbase will add support for EURC on the Ethereum network (ERC-20 token) and trading will begin on 20 June 2024 at or around 3PM ET. Do not send this asset over other networks or your funds 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 on to note that Euro Coin is going through a name change that is taking more time than originally expected, hampering service. The stablecoin’s token is being renamed from EUROC to EURC.
“The renaming of Euro Coin (EUROC) to EURC is taking longer than expected. We apologize for these delays, but rest assured your funds are safe and our teams are working as quickly as possible to restore full service.”
Circle initially launched Euro Coin on June 30th, 2022 over the Ethereum (ETH) blockchain but later expanded to other crypto assets, such as Solana (SOL), and Stellar (XLM).
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Pattern Trends
Credit: Source link
