Circle has recently revealed the official introduction of its EURC token on the Stellar network, a disclosure made during the Stellar Foundation's Meridian 2023 conference. The conference, boasting numerous prominent crypto enthusiasts, provided an ideal platform for Circle to share this news, as affirmed on Circle's official X/Twitter account.

As per the tweet, EURC stands as a Euro-backed stablecoin fully reserved, aimed at broadening Euro accessibility worldwide. With EURC and USDC tokens now accessible on Stellar, traders gain access to fresh opportunities with 24/7 FX.

Additionally, developers can construct atop EURC and USDC tokens on Stellar, presenting a swift and cost-effective avenue for saving, lending, spending, and sending money globally. Individuals with stable internet connectivity can now tap into remittance and payment apps on Stellar.

Furthermore, a Circle Account facilitates business access to off/on-ramps for EURC tokens on Stellar, simplifying asset sharing with Stellar-supported digital wallets. With a Circle Account, transitioning EURC tokens from one network to another blockchain takes merely minutes.

In addition, Circle announced that Ripio has commenced supporting EURC tokens on Stellar, allowing users to conduct payments and remittances across Spain and Latin America, with transactions settling in mere seconds. Similar to Stellar, users can swap between EURC and USDC tokens on Ripio-friendly exchanges. With this latest integration, Circle has extended EURC to Avax, Stellar, and Ethereum.

Rachel Mayer, Circle's Vice President, also discussed the development, emphasizing Circle's dedication to advancing financial inclusion through its partnership with Stellar. Together, the collaboration aims to ensure that victims of humanitarian disasters can access aid, even in situations where on-ground services are disrupted. Launching EURC on Stellar presents an opportunity to enhance European remittance corridors, treasury management, aid distribution, and cross-border payments, added Mayer.