EURC, issued by Circle Internet Financial Europe SAS, is a fiat-backed electronic money token stablecoin that tracks the euro (EUR) and is always redeemable at a fixed one-to-one ratio for euro through Circle [S1][S2].

Each EURC token references the euro (EUR) and is backed 100% by euro held in euro-denominated bank deposits and equivalent liquid assets at regulated European Economic Area institutions [S1]. EURC is non-yield-bearing, and Circle assumes the interest rate risk on the reserves, with any returns earned on those reserves belonging to Circle rather than tokenholders [S1]. Circle Mint account holders convert euro to and from EURC at no additional cost, while onchain transfer fees apply per the Circle fee schedule [S3].

EURC is issued by Circle Internet Financial Europe SAS, which became the dual issuer of EURC from July 1, 2024 for compliance in the European Economic Area [S2][S1]. Circle is compliant with the Markets in Crypto-Assets Regulation (MiCA), under which EURC is offered as a regulated e-money token (EMT) representing tokenized euro reserves held for tokenholders' benefit [S1]. EURC is always redeemable one-to-one for euro [S1]. Reserves are held segregated from Circle's corporate funds, on behalf of and for the benefit of holders, and are not lent or rehypothecated [S3][S4]. Holders have no deposit insurance [S3].

EURC is available on chains including Avalanche, Base, Ethereum, Solana, Stellar, and World Chain [S1]. It operates a closed mint-and-burn system in which a Circle Mint client wires euro to Circle, Circle credits the reserve and mints EURC, and redemption reverses the flow [S5][S3]. Reserves are independently attested monthly under AICPA standards by Deloitte & Touche LLP [S1][S4].

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.circle.com/eurc" },
    { id: "S2", url: "https://www.circle.com/legal/licenses" },
    { id: "S3", url: "https://www.circle.com/legal/usdc-terms" },
    { id: "S4", url: "https://www.circle.com/transparency" },
    { id: "S5", url: "https://developers.circle.com/stablecoins/what-is-usdc" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset price

Stablecoins

Users deposit funds into Circle account and receive USDC or EUROC at a 1:1 rate.

Circle is a financial technology company that is the principal architect of USDC and EUROC - full-reserve fiat stablecoins that bring US dollar and euro liquidity on-chain.

Circle is a private company registered in the US. Circle's investors include Goldman Sachs, Baidu, and IDG Capital etc.

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Stablecoin issuers

Circle

Euro Coin (EURC) is a euro stablecoin issued by Circle through Circle Internet Financial Europe SAS.

Each token is redeemable one-for-one for euros and is a direct claim on the issuer.

Reserves are held in bank deposits, in accounts segregated from the issuer's own funds, attested monthly by Deloitte & Touche LLP.

Institutions can mint and redeem directly with Circle in EUR after completing KYC, and holders have a contractual right to redeem at par.

Circle Internet Financial Europe SAS is incorporated in France, is authorised under MiCA, and is supervised by the Autorité de contrôle prudentiel et de résolution (ACPR) and the Autorité des marchés financiers (AMF).

Holder terms are governed by the law of France.

EURC has been issued on public blockchains since May 2022 and is native to 8 networks, including Ethereum, Avalanche, Stellar, Solana, Base, and World Chain, with bridged versions on three more.

Euro CoinEURC