SpectroCoin, a cryptocurrency wallet, exchange, debit card, and payment processing provider, is glad to announce it now supports the ability to withdraw, store, trade, spend and accept Euro Coin (EUROC)
Euro Coin is a euro-backed stablecoin issued by Circle in 2022.
Circle has also designed USDC, a USD-based coin currently ranked fifth in the crypto rating with a market capitalization equal to BNB. Circle offers a financial system for businesses to avoid traditional bank problems and achieve their business goals with digital currencies. The company is committed to transparency, stability, and clear regulations so anyone can check detailed reports on how Circle stablecoins are backed.
Euro Coin is fully reserved, just like USDC, and is entirely backed by euros held in euro-denominated banking accounts, meaning that EUROC to EUR is always equivalent to 1:1. As an ERC-20 token, the asset provides both private users and businesses with stable access to Ethereum-based features. The company aims to make it a multichain token in the future.
In less than a year, the token achieved a performance of over $33 million in market capitalization and 31+ million in circulation supply, and expanding to new blockchains and audiences will increase those numbers.
We allow private users and businesses to take advantage of the stable nature of EUROC.
Private users can deposit Euro Circle coins to the SpectroCoin wallet and withdraw them to any wallet or platform that supports the Ethereum network. Since the wallet is linked to a debit card and a dedicated IBAN account, you can directly deposit and withdraw from and to your SpectroCoin account.
Users can convert EUROC to EUR and back using multiple payment methods in the mobile app and browser.
Also, we plan to launch EUROC-based loans, so you can use Euro Coins as collateral to get funds with up to 75% LTV. On the website, you can pick the best conditions with a loan calculator.
As for online businesses, SpectroCoin Gateway helps to easily accept crypto payments, including Euro Coin payments, and reach younger and more advanced audiences.
Please, don't hesitate to reach our customer support if you have more questions about using Euro Coin at SpectroCoin.