Coinbase, a major cryptocurrency exchange, announced on Feb. 28 that it has listed Euro Coin (EUROC), a stablecoin pegged to the value of the euro. The asset is 100% backed by euros in EUR-denominated bank accounts, and is the first Euro-pegged stablecoin to be fully supported by Coinbase.

The listing of EUROC comes just one day after Coinbase announced that it would suspend trading of the Binance USD (BUSD) stablecoin. It also comes on the same day that the company unveiled its crypto policy advocacy program, Crypto 435.

EUROC was originally introduced by Circle in June 2022. It is similar to its better-known counterpart, USD Coin or USDC, which is pegged to the American dollar. Coinbase and Circle maintain a close relationship as the two founding members of Centre, the consortium originally responsible for launching USDC.

Coinbase also offers varying levels of support for other euro stablecoins, such as Stasis Euro (EURS), Euro Tether (EURT), and sEUR (SEUR). However, these stablecoins can only be custodied in the Coinbase wallet, and not traded on the exchange. Other euro stablecoins, such as Celo Euro (CEUR), are not supported at all.

The listing of EUROC is a major step forward for Coinbase, as it allows customers to buy and sell the euro-pegged stablecoin on the platform. This could potentially open the door for more Euro-pegged stablecoins to be listed in the future.

Coinbase’s listing of EUROC is a sign of the growing demand for Euro-pegged stablecoins. With the introduction of EUROC, Coinbase is helping to make it easier for customers to access and use the asset. This could potentially lead to more widespread adoption of cryptocurrency in Europe, as well as other regions.