The Euro Coin (EUROC) by Circle: The First Big Euro Stablecoin?

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About this event
Since the rise of stablecoins, the sector is firmly in the hands of US dollar-denominated stablecoins, accounting for over 95% of the total market. Above all, players like Circle, Tether and Paxos dominate the stablecoin market, all of which have pegs to the US dollar. Since Circle launched the US dollar stablecoin (USDC) in 2018, the stablecoin's market capitalization has grown to a significant size of more than $50B. As of today, there is no euro stablecoin of a similar size. This could now change with the Euro Coin (EUROC) from Circle.

Previous to the increase of the euro key interest rates above zero in July 2022, the necessary conservative coverage, such as that carried out by Circle with the EUROC, has not been economical. However, companies can now issue fully covered euro denominated stablecoins without having to pay negative interest rates in their issuance. Until now, crypto investors and traders have generally relied on cashing out in US dollar stablecoins. Thus, those holding tokenized fiat money from the euro zone have been exposed to exchange rate risk as a result. Companies with a strong import and export business outside the SEPA area could also benefit from immediate payment processing. Thus, EUROC could become the first major euro denominated stablecoin that gains over 1% market share and grows to significant adoption and trading volume.

Furthermore, blockchain applications, and DeFi applications in particular, are likely to benefit from a euro stablecoin such as EUROC that reduces the hurdles faced by people from the eurozone. Circle is convinced that the internet needs an uber "money API", and believes that stablecoins are the answer. Please join Joao Reginatto, Circle’s vice president of product development to discuss why stablecoins are a development platform and how they can impact the future of financial services.

After the keynote, our panelists will dive into the following questions, amongst others:
What are the growth projections for the EUROC?
How does EUROC differ from other euro denominated stablecoins?
Which benefits does EUROC provide as compared to dollar denominated stablecoins?
Which use cases is EUROC adopted for?
How is the future of EUROC envisioned within the eurozone?
How is the future of EUROC envisioned outside of the eurozone?

During the webinar, you will also have the opportunity to ask questions to the speakers.

Participants of the webinar
Joao Reginatto (Vice President of Product Management, Circle)
Teana Baker Taylor (Vice President of Policy & Regulatory Strategy, UK/EU, Circle)
Sarah Palurovic (Executive Director, DEA)

Location and date
Location: Online. Details for the live broadcast will be sent to you on the day of the event (no prior software installation required)

Date: August 11, 2022

Time: 16h00–17h30 (CET) | 15:00-16:30 (GMT) | 10:00 - 11:30 (EDT)

Language: English

Tickets and registration
Required via Eventbrite; you will receive the URL for the webinar in advance.

Who should participate?
Researchers and scholars from academia in the fields of finance, macroeconomics, geopolitics and management with a particular interest in digital money, specifically stablecoins
Programmers and engineers interested in stablecoins as a development platform
Leaders and managers from financial services and payment providers and the capital markets industry
Associates and analysts from investment banks and consulting firms (national and international departments)
Consultants with a focus on digital currency
Other groups of people with an interest in capital markets, crypto assets, technology, and digitization

Contact
Digital Euro Association

About the Digital Euro Association
The Digital Euro Association (DEA) is a think tank specializing in crypto assets, stablecoins, central bank digital currencies (CBDC), and other forms of digital money. Our mission is to contribute to the public and political discourse through research, education, and by providing a platform for discussion and a community for policy-makers, technologists, and economists. We are committed to independence and excellence, aiming to set the agenda and to shape policy by encouraging new ideas and forward-thinking in the field of digital money. We deal with new and innovative topics such as the digital, programmable Euro and Libra, but also with “classical” crypto assets such as Bitcoin and Ether. More information on the Digital Euro Association can be found on our website, LinkedIn and Twitter.