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Euro Coin, or EUROC, is a euro-backed stablecoin that’s accessible globally on Ethereum and Avalanche. Similar to USDC, Euro Coin is issued by Circle under a full-reserve model.

Designed for stability, Euro Coin is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros. 

On May 25 Trader Joe opens two markets with EUROC involving WAVAX and USDC increasing the reach of EUROC on Avalanche. The user response is going to be vital to understand the impact of this stablecoin on Avalanche as Trader Joe is one of the most important trading platforms on this blockchain.