Circle Expands Stablecoin Infrastructure with New Local-Currency Ramps and EURC Milestone
Circle, a leading fintech and cryptocurrency company, has made significant strides in expanding its stablecoin infrastructure. The company has added six new local-currency ramps for USDC to its Circle Mint platform, making it easier for businesses and institutions to convert between currencies. This move is part of Circle's push to make USDC more accessible outside dollar- and euro-denominated markets.
The updated Circle Mint now supports direct local-currency conversion across eight currencies, including the Brazilian real, British pound, Hong Kong dollar, Mexican peso, offshore Chinese yuan, Singapore dollar, USD, and EUR. This eliminates the need for separate conversion steps or pre-funded accounts, making it a more seamless experience for users.
The company also announced that its euro stablecoin, EURC, has surpassed €400 million in circulation, with supply growing over 100% in the past year. Circle attributes this growth to the MiCA regulation in Europe, expanded exchange listings, and settlement integrations with Visa and Mastercard.