Circle renames its stablecoins to USDC and EURC

Circle renames its stablecoins to USDC and EURC.

Circle announced the renaming of its stablecoins USD Coin and Euro Coin to USDC and EURC.

The new names correspond to the stablecoin tickers. The company noted that they will gradually phase out the old names USD Coin, Euro Coin and EUROC.

“Circle’s mission is to advance global economic prosperity through frictionless exchange of value. The search and identification of our stablecoins should reflect the same ease,” the statement said.

According to the press release, the existing addresses will remain unchanged — no new tokens will be issued.

USDC is issued by the Centre consortium, which includes Circle and the Bitcoin exchange Coinbase. The asset ranks second among stablecoins by market capitalization, after Tether (USDT) with a market cap of $25.7 billion.

In August, Circle announced the launch of USDC on six new networks: Base, Cosmos (via Noble), NEAR, Optimism, Polkadot and Polygon.

Earlier, Kaiko analysts noted the resurgence of “stablecoin wars”.