Aave launches EURC stablecoin on Base to be used as collateral for lending and borrowing

Aave launched the StableCoin Eurcoin compliant with Mica on the basis, allowing users to use it as a guarantee for the loan and the loan.

The AAVE loan and decentralized loan platform (GHOST) launched Eurc de Circle (Eurc) Screws on the base layer 2 blockchain. With EURC on the AAVE base market, users can now borrow EURC or use it as a guarantee to contract other loans on the platform. This addition is expanding the options for users of Aave in terms of borrowing and party shooting of their assets beyond the stablecoins PEGGED available on the platform, namely the USD part (USDC), Dai (Dai), and attach (USDT). .

This evolution represents a part of the growing trend in which the ready-made and borrowing platforms widen their offers beyond the stablecoins in Pius. Last year, the Protocols DEFI Fluid and Moonwell also activated a market for EURC on the basis.

This is also part of the growing trend where crypto service providers are made an effort to integrate more stables -co -compliant with mica and delimit non -compliant stublins, after the entry into force of the mica regulation. For example, to guarantee membership of Mica regulations, Binance recently announcement that it would set up nine stablecoins, especially USDT and DAI for users of the European Economic Area. Likewise, Coinbase scraped Non -compliant stables, including TETHER, and encouraged customers to switch to compliant customers, such as USDC and EURC.

MICA compliance ensures that stablecoins and other cryptographic assets comply with strict European Union regulations. More specifically, it forces issuers to be under license and register in the EU, regularly disclose their reserves and undergo audits to prevent fraud and mismanagement. Consumers have the legal right to buy the stablescoins 1: 1 for fiduciary currency, issuers forced to maintain fully sustained reserves in safe and low risk assets. The European banking authority and national regulators oversee compliance, with the power to prohibit non -compliant stable and to intervene in the event of financial instability. Circle, which emits EURC and USDC, has become the first stablecoin transmitter to be authorized by Mica, From July 1.