Euro Coin

EURC holders have a legal claim against Circle SAS, the sole issuer of EURC.

“EURC holders have a legal claim against Circle SAS as the sole issuer of EURC.”

Sending EURC to another address passes the right to redeem it for euros to the new holder, if that holder is eligible.

“EURC holders understand that sending EURC to another address automatically transfers and assigns to the owner of that address, and any subsequent EURC holder, the right to redeem EURC for EUR funds so long as the EURC Holder is eligible to.”

Circle Internet Financial Europe SAS is a licensed electronic money institution authorized to issue USDC and EURC as regulated e-money tokens under MiCA regulation in the EEA.

“Circle Internet Financial Europe SAS is a licensed electronic money institution authorized to issue USDC and EURC as regulated e-money tokens under MiCA regulation in the EEA.”

Disputes about the public offer of EURC in the EEA go exclusively to the commercial courts of Paris, France.

“Any dispute with the offer to the public of EURC in the EEA shall be brought exclusively in the Commercial courts of Paris, France except where prohibited by the laws of France”

Holders pay the network fees (for example gas on Ethereum and Base) when they use EURC.

“Usage of EURC requires the EURC holders to cover network fees, which may be gas fees on Ethereum and Layer 2s (Base) and transaction fees on other blockchains.”

If the ACPR triggers Circle SAS's Redemption Plan, individual redemption claims are suspended.

“If the ACPR triggers the implementation of the Redemption Plan, any individual claim under Section D.1 above will be suspended.”

EURC holders have a right of redemption at any time and at par value.

“The holders of this EMT have a right of redemption at any time and at par value.”

Buying or redeeming EURC directly from Circle (Circle Mint) is open only to institutions in supported jurisdictions.

“Circle Mint, Circle SAS’s service that allows its customers to access EURC directly from Circle SAS, is currently only available to institutions located in supported jurisdictions.”

For every EURC in circulation, Circle SAS holds one euro or an equivalent amount of euro assets in segregated accounts.

“This means that for every EURC issued by Circle SAS and remaining in circulation, Circle SAS holds on behalf of holders either one EUR or an equivalent amount of EUR-denominated assets in its Segregated Accounts”

Reserves are held with regulated financial institutions in accounts segregated from Circle SAS's own funds, for the benefit of EURC holders.

“EURC is fully backed by an equivalent amount of EUR-denominated assets held by Circle SAS with regulated financial institutions in segregated accounts separate from Circle SAS’s corporate funds, on behalf of, and for the benefit of, EURC holders”

Accounting firms review the reserves monthly and confirm they match or exceed the EURC in circulation.

“The EURC Reserves are independently reviewed by leading accounting firms, providing monthly confirmation that they match or exceed the EURC in circulation.”

Circle SAS may freeze EURC, temporarily or permanently, where it finds transactions likely linked to criminal offences.

“Moreover, if Circle SAS determines that EURC transactions linked to public addresses are likely to be associated with criminal offenses, Circle SAS may decide to freeze the associated EURC (temporarily or permanently).”

EURC on Avalanche, Base and Ethereum uses upgradeable proxy contracts (UUPS).

“EURC is deployed using upgradeable smart contract architectures via the proxy patterns of the Universal Upgradeable Proxy Standard (UUPS) – introduced via ERC-1822 – on Avalanche, Base, and Ethereum.”

The minting contract sets no fixed cap on EURC supply.

“Not applicable as the supply of EURC is not limited to any fixed amount within its minting smart contract.”

Circle SAS may amend holders' rights and obligations and announces changes through the white paper or its redemption policy.

“Circle SAS reserves the right to amend these rights and obligations from time to time, and will inform its customers of such changes through amendments of this White Paper or the Redemption Policy”