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Circle, Le Kamupani i tua o le USDC Stablecoin, Faʻasalalau Euro Coin
E manaʻomia e le lalolagi le Euro Coin? O loʻo iai stablecoins faʻapipiʻi i le Euro i le maketi. O le eseesega iinei, peitaʻi, o le Liʻo. I le avea ai ma tagata na tuʻuina atu le USDC faʻaaloalogia, o loʻo ia i latou le taʻutaʻua, le poto, ma le tagata faʻatau e faʻataunuʻuina lenei mea. E oo lava i na tulaga lelei uma, o le maketi e filifili pe manaʻomia e le lalolagi le Euro Coin.
Related Reading | Crypto Investors Find Safety In Stablecoins, Bitcoin, Ditch Altcoins En Masse
On the project’s page, they describe it as, “Euro Coin (EUROC) is issued by Circle under the same full-reserve model as USD Coin (USDC), a trusted dollar digital currency with more than $54 billion in circulation.” At first, Euro Coin will exist on the Ethereum blockchain, it’ll be a traditional ERC-20 already compatible with everything out there.
1/ CIRCLE LAUNCHES EURO COIN: Today, we announced our 2nd major fiat-backed stablecoin, Euro Coin, which went live on Ethereum mainnet, and will be available to mint and redeem on June 30th. https://t.co/vPZkItL0Fu
— Jeremy Allaire (@jerallaire) June 16, 2022
O le Euro Coin o le a "100% e lagolagoina e Euro o loʻo taofia i totonu o teugatupe faʻaletupe e faʻatatau i le euro ina ia mafai ai ona toe faʻaolaina 1: 1 mo Euro". O le ese'esega ma euros masani o le EUROC o le a "avanoa 24/7 ma gaoioi i luga ole initaneti saoasaoa". O le stablecoin fou e amata ia Iuni 30th. “E mafai e pisinisi ona fa'atau sa'o le Euro Coin mai le puna e ala i le teuina o Euro i totonu o latou Circle Account e fa'aaoga ai le feso'ota'iga Euro SEN a Silvergate."
O le a le fa'aoga autu a Euro Coin?I se tweet talu ai nei, Circle CEO Jeremy Allaire aoteleina le tau o le oloa. "E pei o le USDC, o le Euro Coin o loʻo tuʻuina atu i lalo o se faʻatulafonoina faʻatulafonoina mo le faʻasalalauina o tupe, i lalo o tulafono tutusa e faʻatonutonu ai le USDC, faʻatasi ai ma faʻaagaga atoa i Euro, faʻatasi ai ma le puipuiga tutusa, faʻaletupe ma le manino lea na faʻamoemoeina e le maketi mai le Circle" . Pe e foia ai se faafitauli? E lua upu: tupe mai fafo.
4/ Euro Coin fa'alauteleina avanoa mo tupe totogi, on-chain FX, fefa'ataua'iga tupe, fefa'ataua'iga ma fa'atauga fa'akomepiuta lautele maketi fa'aoga-mataupu. O le faʻalauiloaina o se faʻataʻitaʻiga o se suiga i maketi crypto agai atu i le sili atu ma sili atu le aoga aoga mai blockchain infrastructure.
— Jeremy Allaire (@jerallaire) June 16, 2022
Back to the project’s page, Circle promises “multi-currency digital banking and near-instant foreign exchange, where daily volume in traditional markets can top $6.6 trillion globally.” As we read a while ago in the Bitcoinist Book Club, “The Bitcoin Standard” explains how that huge market emerges just to solve “the age-old problem of lack of coincidence of wants.” As explained by Saifedean Ammous, the process goes like this:
"E le manaʻo le tagata faʻatau i tupe o loʻo umia e le tagata faʻatau, ma o lea e tatau ai i le tagata faʻatau ona faʻatau muamua se isi tupe, ma faʻaalu ai tau o le liua. A'o fa'aauau pea ona fa'atuputeleina le fa'aopoopoina o le tamaoaiga o le lalolagi i le aga'i i luma o femalaga'iga ma feso'ota'iga, o lo'o fa'atupula'ia pea le tau o nei fa'aletonu. O le maketi mo fefaʻatauaʻiga i fafo, i le $ 5 trillion o le aofaʻi o aso taʻitasi, o loʻo i ai ona o lenei le lelei o le leai o se tupe faʻavaomalo tutusa tutusa i le lalolagi atoa.
As Circle’s numbers show, since the book’s publication the foreign exchange market kept growing. And since we’re far from living in a bitcoin standard, with a “single global homogeneous international currency,” the foreign exchange will keep growing. And that’s where Euro Coin comes in.
ETH price chart for 06/16/2022 on Kraken | Source: ETH/USD on TradingView.com The New Stablecoin’s Characteristics Where will the money that backs the operation be? “Circle will hold euros in euro-denominated banking accounts at leading financial institutions, beginning with Silvergate Bank in the U.S.”Related Reading | Crypto Company Circle Seeks To Become Global Digital Currency Bank
“Businesses can use a free Circle Account to mint and redeem Euro Coin at no additional cost”. Circle can afford to treat businesses like that because they’re that big and established. Circle will audit the Euro Coin. “Grant Thornton LLP will be issuing monthly attestations of Euro Coin reserves, starting with an attestation for the month of July 2022. Circle will publish the attestation reports on this webpage, with July’s report being available to view online by the end of August 2022.”E taua foi le matauina o le faitioga autu na maua e le poloketi ona latou te filifilia Ethereum e amata ai. Ae ui i lea, ua folafola e Circle le Euro Coin i isi poloka poloka e le o toe mamao. Ma o le manatu o le USDC o loʻo i ai i konekarate atamai uma e mafai ona faʻaogaina poloka poloka i lalo o le la, e leai se mafuaaga e le talitonu ai ia i latou.
Featured Image: Screenshot from Circle's website | Charts by TradingViewPunavai autu: NewsBTC