Coinbase, the leading cryptocurrency exchange based in the United States, has announced that it will be adding support for a stablecoin tied to the Euro. The stablecoin, known as Euro Coin (EURC), is issued by Circle, the company behind the popular USDC stablecoin.

In a recent post on the social media platform X, Coinbase Assets confirmed that it will start supporting EURC on January 20th. The trading of EURC will take place on the Ethereum network as an ERC-20 token. Coinbase advises users not to send EURC on any other networks to avoid the risk of losing their funds.

Coinbase plans to list EURC with an experimental label, indicating that it is a more risky and volatile digital asset. This designation is used by the exchange to highlight assets that may not have undergone extensive testing or have a proven track record of stability.

However, Coinbase acknowledges that the process of renaming Euro Coin from EUROC to EURC is taking longer than anticipated, causing delays in its services. Nevertheless, the exchange assures users that their funds are safe and that its teams are working diligently to restore full service as quickly as possible.

Circle initially launched Euro Coin on the Ethereum blockchain in June 2022, but has since expanded its availability to other cryptocurrencies such as Solana and Stellar.

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