EURC (EURC)

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Historical price evolution of EURC

Daily historical data. Updated automatically.

EURC was launched on 30th June 2022 by Circle Internet Financial on the Ethereum blockchain, initially under the ticker EUROC and the name "Euro Coin". Circle, the company behind USDC, thus became the first tier-one issuer to launch a euro-backed stablecoin. The initial reserves were custodied at Silvergate Bank under US jurisdiction, and the initial supply reached approximately 80 million EURC.

In November 2022, following the collapse of FTX, the supply of EURC experienced a significant drop from the initial 80 million to less than 30 million. This reduction reflected the generalised crisis of confidence that affected all stablecoins in the crypto ecosystem during that period.

In March 2023, the collapse of Silicon Valley Bank (SVB) caused a temporary crisis in USDC, which traded as low as 0.87 USD before recovering. However, EURC was not affected by this crisis, as its reserves were held at regulated financial institutions in the European Union, completely separate from the US banking system.

During 2023 and 2024, EURC experienced significant expansion in its infrastructure. In September 2023, Circle expanded EURC to the Stellar blockchain. Subsequently, in June 2024, the stablecoin arrived on the Base blockchain, Coinbase's Layer 2, at which point the ticker change from EUROC to EURC was officialised.

A key regulatory milestone occurred in July 2024, when Circle obtained the Electronic Money Institution (EMI) licence from the French Prudential Control and Resolution Authority (ACPR). This achievement made Circle the first global stablecoin issuer with full MiCA compliance, and EURC became the first euro stablecoin classified as an Electronic Money Token (EMT) under this European regulation.

By 2025, EURC had surpassed 456 million USD in market capitalisation, consolidating its position as the leading euro stablecoin in the crypto market. Monthly transfer volume exceeded 2,500 million USD, and regulated European exchanges began to favour EURC over MiCA non-compliant competitors such as Tether's EURT.

EURC functions as an Electronic Money Token (EMT) issued by Circle Internet Financial Europe SAS, Circle's Parisian subsidiary that operates under the supervision of the ACPR, the French banking regulator. The central mechanism is based on full collateralisation that maintains a strict 1:1 parity with the euro: for each EURC circulating in the market, there exists a physical euro deposited in regulated financial institutions within the European Economic Area. These reserves are held in segregated accounts completely inaccessible for Circle's commercial operations, creating a protective barrier for the backing funds.

The issuance and redemption process operates through Circle Mint, an exclusive platform for institutional clients that allows the conversion of bank euros into EURC tokens (process called "mint") or the reconversion of EURC into traditional euros (process "burn") whilst always maintaining the 1:1 ratio without additional fees. The system's transparency is guaranteed through monthly audits conducted by Grant Thornton, whose results are regularly published on Circle's transparency site. EURC is available on multiple blockchains including Ethereum, Avalanche, Base, Solana and Stellar, enabling its use across different decentralised ecosystems.

Unlike USDC, EURC does not generate yields by default due to compliance requirements under European MiCA regulation, although users can utilise these tokens in decentralised finance protocols such as Aave to generate yield independently. This characteristic reflects the regulatory differences between US and European jurisdictions in the treatment of stablecoins.

Data verified against external sources. Some values may have changed since the last update.