Coinbase Just Added Circle’s Euro-Backed Stablecoin to Listing Roadmap

It’s been just revealed that Coinbase has just added Circle’s Europ-backed stablecoin to the listing road trip. Check out the latest reports about this below.

Customers at top US crypto exchange Coinbase could soon trade their digital assets with a euro-backed stablecoin.

The exchange has added Euro Coin (EUROC) to its listing roadmap on Thursday, putting the stablecoin on the path to being tradeable.

As the online publication the Daily Hodl notes, the Euro Coin is issued by Circle, the global fintech company known for working in a consortium with Coinbase to issue USD Coin (USDC), the second-largest dollar-pegged stablecoin.

Circle says Euro Coin is “100% backed by euros held in euro-denominated banking accounts,” in order to ensure it’s always redeemable at a 1:1 ratio for euros.

As of February 2nd, there’s €31.1 million ($33,355,061) worth of EUROC in circulation, and €31.3 ($33,569,563) million in reserves, according to the fintech company.

It’s been just revealed that the exchange has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap.

Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective – just in case you don’t know, this is a liquid staking protocol.

The Liquid Collective notes its staking method differs from traditional staking, where users lock up their tokens.

“Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token and receive a receipt token as evidence of their ownership of their staked token. The receipt token can be transferred, stored, traded, and utilized in DeFi [decentralized finance] or supported DApps [decentralized applications].”