Circle’s EURC goes live on Upbit, giving South Korean traders direct access to euros

Circle’s euro stablecoin just landed on one of crypto’s most active trading floors. EURC began trading on Upbit, South Korea’s dominant digital asset exchange, on August 28 at 5:00 a.m. UTC, opening three pairs: EURC/KRW, EURC/BTC, and EURC/USDT. A direct EURC/KRW market means converting won into euros without routing through dollars first, cutting out a conversion step that typically costs both time and fees. What EURC actually is, and why compliance matters here EURC is issued by Circle Internet Financial Europe SAS, a French electronic money institution. Every token is backed 1:1 by euro reserves held at regulated institutions inside the European Economic Area, a full-reserve model that leaves no ambiguity about what underpins the peg. EURC is designed specifically to meet the EU’s Markets in Crypto-Assets framework, better known as MiCA, which sets out reserve, disclosure, and operational requirements for stablecoin issuers. EURC circulates across multiple blockchains, including Ethereum, Solana, and Stellar. Circulation exceeded €400 million as of mid-August 2026, more than double the figure from a year earlier. The groundwork: Circle and Dunamu’s April partnership Circle and ...