Circle Enhances Clarity With USDC And EURC Stablecoin Rebrand
Circle, a prominent stablecoin issuer, has officially renamed its US dollar and euro-pegged stablecoins to USDC and EURC, respectively, in a bid to streamline its product naming and symbols, reducing confusion among users. Previously known as USD Coin and Euro Coin, the stablecoins will now simply go by USDC and EURC. USDC is notably the second-largest stablecoin by supply, following Tether USD (USDT).
USDC is a digital stablecoin pegged to the United States dollar, managed by the Centre consortium, founded by Circle and involving members from Coinbase and Bitmain. It’s crucial to note that USDC is issued by a private entity and should not be confused with central bank digital currencies (CBDCs). In addition to the rebranding, Circle has joined the World Economic Forum’s Humanitarian and Resilience Investing (HRI) initiative. This partnership aims to mobilize $10 billion in capital to support the growth and operation of 1,000 local and international businesses in frontier markets by 2030, uniting humanitarian and development organizations, donors, governments, and various stakeholders in this noble cause.
