{
  "$schema": "https://degreesofsatoshi.com/encyclopedia/schemas/article-v1.json",
  "schemaVersion": "1.0.0",
  "id": "what-is-eurc",
  "canonical": "https://degreesofsatoshi.com/encyclopedia/what-is-eurc/",
  "collection": "stablecoins",
  "title": "What is EURC? A euro peg still carries dollar exchange-rate risk",
  "description": "Understand Circle’s euro-referenced stablecoin EURC and separate its euro target from exchange-rate changes measured in dollars or another currency.",
  "aliases": [
    "EURC"
  ],
  "dates": {
    "published": "2026-10-02",
    "modified": "2026-10-02",
    "verified": "2026-10-02T18:15:23.891Z",
    "dataAsOf": "2026-10-02"
  },
  "authorship": {
    "publisher": "Degrees of Satoshi editorial project",
    "process": "AI-assisted research and drafting with a separate automated source-verification pass; no external expert or named human review is implied."
  },
  "quickAnswer": {
    "text": "EURC is Circle’s euro-referenced stablecoin. Its target unit is the euro, so maintaining that target does not mean a constant US-dollar value. Holders must still distinguish secondary-market price, direct-redemption eligibility, the official network deployment and the applicable issuer terms.",
    "claimId": "what-is-eurc-quick-answer",
    "sourceIds": [
      "circle-eurc"
    ]
  },
  "keyFacts": [
    {
      "label": "Reference unit",
      "value": "EURC targets the euro rather than the US dollar.",
      "sourceIds": [
        "circle-eurc"
      ],
      "id": "reference-unit",
      "claimId": "what-is-eurc-fact-reference-unit"
    },
    {
      "label": "Issuer",
      "value": "Circle publishes the EURC product and supporting disclosures.",
      "sourceIds": [
        "circle-eurc"
      ],
      "id": "issuer",
      "claimId": "what-is-eurc-fact-issuer"
    },
    {
      "label": "Comparison",
      "value": "A euro target leaves exchange-rate exposure for someone measuring value in another currency.",
      "sourceIds": [
        "circle-eurc"
      ],
      "id": "comparison",
      "claimId": "what-is-eurc-fact-comparison"
    }
  ],
  "prerequisites": [
    "non-dollar-stablecoins"
  ],
  "sections": [
    {
      "id": "currency",
      "heading": "Stable relative to which unit?",
      "sourceIds": [
        "circle-eurc"
      ],
      "paragraphs": [
        "Suppose one EURC remains worth one euro while the euro’s dollar exchange rate changes. Its dollar price can change without a failure of the euro peg.",
        "This distinction matters when comparing EURC with dollar stablecoins. A chart in dollars mixes token-peg behavior with the underlying currency exchange rate."
      ]
    },
    {
      "id": "access",
      "heading": "Separate holding, trading and redeeming",
      "sourceIds": [
        "circle-eurc"
      ],
      "paragraphs": [
        "A holder can acquire a token through a secondary market, but direct issuer redemption has its own applicable account and legal conditions. Consult the current EURC-specific terms for the relevant entity and jurisdiction.",
        "Do not substitute USDC terms merely because both products are issued under the Circle brand. The reference currency and product documentation differ."
      ]
    },
    {
      "id": "deployment",
      "heading": "Match the token and network",
      "sourceIds": [
        "circle-eurc",
        "erc20"
      ],
      "paragraphs": [
        "Use Circle’s supported deployment information to identify the exact asset. A contract with the same symbol can be unrelated, and a bridged representation can add another dependency.",
        "The product description here is based on primary material retrieved October 2, 2026; it does not quote a live exchange rate or claim universal service availability."
      ]
    }
  ],
  "faq": [
    {
      "question": "If EURC rises against the dollar, has it lost its peg?",
      "answer": "Not necessarily. It can continue tracking the euro while the euro rises against the dollar. Evaluate the token against its intended reference currency.",
      "sourceIds": [
        "circle-eurc"
      ]
    }
  ],
  "claims": [
    {
      "id": "what-is-eurc-quick-answer",
      "articleSlug": "what-is-eurc",
      "statement": "EURC is Circle’s euro-referenced stablecoin. Its target unit is the euro, so maintaining that target does not mean a constant US-dollar value. Holders must still distinguish secondary-market price, direct-redemption eligibility, the official network deployment and the applicable issuer terms.",
      "sourceIds": [
        "source-20a8193fc4b24652"
      ],
      "sourceLocators": [
        {
          "sourceId": "source-20a8193fc4b24652",
          "locator": "Euro-backed stablecoin; Redeemability"
        }
      ],
      "scope": {
        "collection": "stablecoins",
        "dataAsOf": "2026-10-02",
        "blockHeight": null
      },
      "qualification": "",
      "evidenceStatus": "documented",
      "verification": {
        "status": "verified",
        "method": "independent automated source review",
        "checkedAt": "2026-10-02T18:15:23.891Z",
        "reviewer": "Independent automated verification agent verify_bitcoin_stablecoins_100",
        "notes": [
          "Read Circle EURC reference-currency, Circle Mint access and deployment information. The euro-versus-dollar example is a currency-unit inference, not a live exchange-rate quote.",
          "Redemption guidance asks for EURC-specific applicable terms and does not substitute USDC terms. No universally available service or unsupported network list is asserted."
        ]
      }
    },
    {
      "id": "what-is-eurc-fact-reference-unit",
      "articleSlug": "what-is-eurc",
      "statement": "Reference unit: EURC targets the euro rather than the US dollar.",
      "sourceIds": [
        "source-20a8193fc4b24652"
      ],
      "sourceLocators": [
        {
          "sourceId": "source-20a8193fc4b24652",
          "locator": "Euro-backed stablecoin; Redeemability"
        }
      ],
      "scope": {
        "collection": "stablecoins",
        "dataAsOf": "2026-10-02",
        "blockHeight": null
      },
      "qualification": "",
      "evidenceStatus": "documented",
      "verification": {
        "status": "verified",
        "method": "independent automated source review",
        "checkedAt": "2026-10-02T18:15:23.891Z",
        "reviewer": "Independent automated verification agent verify_bitcoin_stablecoins_100",
        "notes": [
          "Read Circle EURC reference-currency, Circle Mint access and deployment information. The euro-versus-dollar example is a currency-unit inference, not a live exchange-rate quote.",
          "Redemption guidance asks for EURC-specific applicable terms and does not substitute USDC terms. No universally available service or unsupported network list is asserted."
        ]
      }
    },
    {
      "id": "what-is-eurc-fact-issuer",
      "articleSlug": "what-is-eurc",
      "statement": "Issuer: Circle publishes the EURC product and supporting disclosures.",
      "sourceIds": [
        "source-20a8193fc4b24652"
      ],
      "sourceLocators": [
        {
          "sourceId": "source-20a8193fc4b24652",
          "locator": "Euro-backed stablecoin; Redeemability"
        }
      ],
      "scope": {
        "collection": "stablecoins",
        "dataAsOf": "2026-10-02",
        "blockHeight": null
      },
      "qualification": "",
      "evidenceStatus": "documented",
      "verification": {
        "status": "verified",
        "method": "independent automated source review",
        "checkedAt": "2026-10-02T18:15:23.891Z",
        "reviewer": "Independent automated verification agent verify_bitcoin_stablecoins_100",
        "notes": [
          "Read Circle EURC reference-currency, Circle Mint access and deployment information. The euro-versus-dollar example is a currency-unit inference, not a live exchange-rate quote.",
          "Redemption guidance asks for EURC-specific applicable terms and does not substitute USDC terms. No universally available service or unsupported network list is asserted."
        ]
      }
    },
    {
      "id": "what-is-eurc-fact-comparison",
      "articleSlug": "what-is-eurc",
      "statement": "Comparison: A euro target leaves exchange-rate exposure for someone measuring value in another currency.",
      "sourceIds": [
        "source-20a8193fc4b24652"
      ],
      "sourceLocators": [
        {
          "sourceId": "source-20a8193fc4b24652",
          "locator": "Euro-backed stablecoin; Redeemability"
        }
      ],
      "scope": {
        "collection": "stablecoins",
        "dataAsOf": "2026-10-02",
        "blockHeight": null
      },
      "qualification": "",
      "evidenceStatus": "documented",
      "verification": {
        "status": "verified",
        "method": "independent automated source review",
        "checkedAt": "2026-10-02T18:15:23.891Z",
        "reviewer": "Independent automated verification agent verify_bitcoin_stablecoins_100",
        "notes": [
          "Read Circle EURC reference-currency, Circle Mint access and deployment information. The euro-versus-dollar example is a currency-unit inference, not a live exchange-rate quote.",
          "Redemption guidance asks for EURC-specific applicable terms and does not substitute USDC terms. No universally available service or unsupported network list is asserted."
        ]
      }
    }
  ],
  "sources": [
    {
      "id": "circle-eurc",
      "label": "EURC",
      "publisher": "Circle",
      "url": "https://www.circle.com/eurc",
      "locator": "Euro-backed stablecoin; Redeemability",
      "note": "EURC targets the euro, and cross-currency exposure remains for other unit-of-account holders.",
      "version": null,
      "checkedAt": "2026-10-02T17:03:43.229Z",
      "contentSha256": "99ee09bddf311d439f6ed29e31dec4344475a7d5aef92e189d0a4b516209d3a9",
      "recordId": "source-20a8193fc4b24652"
    },
    {
      "id": "erc20",
      "label": "ERC-20 Token Standard",
      "publisher": "Ethereum Improvement Proposals",
      "url": "https://eips.ethereum.org/EIPS/eip-20",
      "locator": "totalSupply; balanceOf; transfer; decimals; approve; allowance; transferFrom; Transfer",
      "note": "Token supply, displayed units and balance accounting.",
      "version": "ERC-20",
      "checkedAt": "2026-10-02T17:03:45.826Z",
      "contentSha256": "98bda5e4707841a68684879878c4c165fdaa47d89ed69ebf232ab9be06ff050e",
      "recordId": "source-ac4ad503a55127bb"
    }
  ],
  "related": {
    "articles": [
      "stablecoin-peg-vs-market-price",
      "non-dollar-stablecoins",
      "stablecoin-contract-addresses"
    ],
    "dossiers": [],
    "wallets": []
  },
  "revisionHistory": [
    {
      "date": "2026-10-02",
      "kind": "published",
      "summary": "First publication after primary-source research and independent automated verification."
    }
  ],
  "citation": "Degrees of Satoshi editorial project. “What is EURC? A euro peg still carries dollar exchange-rate risk.” Published 2026-10-02; updated 2026-10-02. https://degreesofsatoshi.com/encyclopedia/what-is-eurc/"
}