Circle plans to launch a stablecoin pegged to the euro and hosted on the Solana blockchain in the first half of 2023.
The company developers have promised to introduce the so-called Euro Coin in the first quarter of next year, if all work goes according to schedule.
Solana Labs has welcomed Circle’s decision and has noted that token holders will be able to use the Solana Pay payment system.
A representative of the blockchain development team has emphasized the launch of the stablecoin on Solana will contribute to the wider adoption of digital currencies and the development of fintech.
The euro-pegged stablecoin will be fiat-backed.