CryptoRefills Adds EUROC Stablecoin Support

CryptoRefills announced Thursday (June 30) that it is adding Circle’s new euro-backed digital currency, EUROC, to its list of supported cryptocurrencies. 

CryptoRefills is a platform that allows people to purchase a range of gift cards and top-up various accounts using popular cryptocurrencies. This gives shoppers the ability to exchange crypto for credit that can be spent on many of the world’s biggest eCommerce sites like Amazon.

The platform also lists popular food delivery services and retail chains.

Besides operating a gift card and top-up marketplace, CryptoRefills also runs research and education initiatives on consumer spending of cryptocurrency in retail. The company publishes an annual report on the global use of crypto for purchasing goods and services. 

“In the past 18 months we have concentrated on the innovation of the blockchain payment experience, with a mission to be the fastest company in the world to bring to market as real-world payment rails, the most promising technologies and digital currencies, typically those used in DeFi and Web3 projects,” Massimiliano Silenzi, CEO of CryptoRefills, said in a press release.

“Our launch of EUROC on June 30th, the day this currency is officially issued on the market, and only two weeks after it was announced by the issuer, is further evidence of our commitment to innovate and to offer our customers the newest crypto payment experiences possible,” he continued.

EUROC is the latest payment method to be added to CryptoRefills’ portfolio of accepted currencies, which already includes bitcoin, litecoin, ether, tether USD and others. 

As a stablecoin pegged to the euro, Euro Coin, or EUROC, is the second such stablecoin to be issued by Circle after its dollar-backed currency, USDC.

See also: Circle Debuts Euro Stablecoin

Currently, USDC is the second most widely circulated stablecoin pegged to the dollar with a market cap of $54.5 billion. The most popular is Tether’s TUSD, which has a market cap of $80 billion.