Coinbase will support a 1:1 conversion between euros and the euro stablecoin EURC on August 28

ChainCatcher news, according to The Block, Coinbase will enable the conversion between the euro fiat currency and the euro-pegged stablecoin EURC in supported jurisdictions on August 28, with a conversion ratio of one to one.

EURC is pegged to the value of the euro, similar to how USDC is pegged to the value of the dollar. According to an email from Coinbase, EURC complies with the requirements of the EU's new Markets in Crypto-Assets Regulation (MiCA).

Conversions conducted on Coinbase Advanced will incur no associated fees. Additionally, Coinbase will launch a new EURC-USDC order book on August 29 and will abolish the existing EURC-EUR and EURC-USD order books.