The Aave platform expanded its offering by adding support for the EURC stablecoin on the Base blockchain, allowing users to use it as collateral for lending and borrowing.
EURC Launch on Aave
The decentralized lending and borrowing platform Aave has launched Circle’s EURC stablecoin on the Base layer 2 blockchain. This move allows users to borrow EURC or use it as collateral for other loans on the platform.
Expansion of DeFi Platforms
Aave's initiative is part of a broader trend where DeFi platforms are broadening their offerings beyond USD-pegged stablecoins. Last year, DeFi protocols such as Fluid and Moonwell also activated markets for EURC on Base.
Compliance with MiCA Standards
MiCA compliance ensures that stablecoins and other crypto assets adhere to strict European Union regulations. Issuers are required to be licensed and registered within the EU, regularly disclose their reserves, and undergo audits to prevent fraud and mismanagement.
The launch of EURC on Aave reflects the trend of integrating MiCA-compliant stablecoins, offering users more options and enhancing security and trust in the European crypto market.
