Avalanche Just Added Native Euro Stablecoin, AvaCloud

Avalanche just made an interesting move on the platform. Check out the latest reports about this below.

Developers on the layer-1 Avalanche have launched AvaCloud this week, putting their unique spin on the app-chain thesis that is gaining popularity.

It’s been also reported that we have a strange coincidence here – Circle, the issuer of the second-largest stablecoin USDC, announced that its euro-backed token EUROC is now natively available on the Avalanche C-chain — marking its first foray into multichain expansion.

AvaCloud is billed as a “launchpad for deploying and scaling no-code, fully managed custom blockchains” — what Avalanche calls Subnets. These are analogous to Cosmos’ consumer chains, which are connected to the Cosmos Hub using replicated security.

The suite of products includes a blockchain builder that is interoperable and comes with managed validators and analytics tools. It is designed for businesses that want to launch blockchains swiftly and with minimal expenses.

Among its early adopters, Avalanche boasts the in-development game Shrapnel and the Korean marketing platform SK Planet.

Aave co-founder Stani Kulechov called it “an interesting way to deploy a customized app-specific network.”

According to DeFi Llama, Avalanche is currently the third-largest market in terms of total value locked, following Polygon’s PoS chain and Ethereum, in the Aave platform.

Payments giant Mastercard is collaborating with a bunch of layer-1 altcoin projects to create common crypto standards.

In a new press release, the credit card giant said that it’s teaming up with Ethereum (ETH) rivals Solana (SOL), Aptos (APT), Polygon (MATIC) and Avalanche (AVAX) to bring more trust to blockchain transactions, according to the online pubcalition the Daily Hodl.

Mastercard is creating the Mastercard Crypto Credential, which will “establish a set of common standards and infrastructure that will help attest trusted interactions among consumers and businesses using blockchain networks.”