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).
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