EURC

EURC, also known as Euro Coin, is a stablecoin issued by Circle that is designed to maintain a one-to-one relationship with the euro. It is intended for anyone who wants to hold, transfer, or use euros in digital form across blockchain networks without relying on a traditional bank account. The asset addresses the need for a euro-denominated digital unit that is fully backed by euros held in euro-denominated banking accounts and redeemable for actual euros.

Circle issues EURC tokens against euros deposited in reserve bank accounts, so each token in circulation is meant to correspond to one euro held in custody. The token itself carries no consensus mechanism of its own; it lives as a smart-contract token across several blockchains including Ethereum, Solana, Avalanche, Base, Optimism, and Cronos, settling on whichever network the holder uses. Redemption works by returning EURC to Circle in exchange for euros, which removes those tokens from circulation.

The data stored for EURC does not include a protocol fee stream, which means this site carries no figures for fee revenue, fee recipients, or protocol earnings. Circle's business model around issuance and redemption may involve fees at the institutional level, but none of that is reflected in the metrics here. The 24-hour turnover of 9.21 percent and the 30-day average turnover of 5.81 percent describe how actively the circulating supply of 445,645,252 tokens is changing hands relative to the market capitalisation of 499,084,445 US dollars, but these are activity measures, not fee measures.