Stargate Finance Approved to Add Circle's Euro Stablecoin, the Bridge's Volume at Elevated Level

The Stargate DAO community voted in favour of adding Circle's Euro stablecoin EUROC to Stargate Finance. The vote has closed with a 95.25% approval rate. The community states adding Euro to Stargate would increase the number of users, transaction numbers, and volume. The currency pair EUR/USD represents around 20% of foreign exchange trading volumes.

Circle’s Euro Coin (EUROC) is a euro stablecoin backed by full reserves currently released on Ethereum and Avalanche. It is similar to USDC except it is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros.

Despite the continuing bear market, both the number of transactions and volume of Stargate Finance has been maintained at a relatively elevated level since March this year according to data provided on Stargate website.

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.