VENUEVERITAS

STABLECOIN EVIDENCE

EURC

Fiat-reserve backedPeg EUREURC

MiCA e-money token pegged to EUR, issued by Circle SAS, backed by euro cash reserves at regulated financial institutions — not USDC dollar reserves.

Compare USDC vs EURCInspect primary evidence

Detail ready · Core-10 evidence

What backs this stablecoin?

Reserve composition from published evidence. Missing percentages are not inferred.

Reserve reportJul 31, 2026
AssuranceDeloitte & Touche LLP · Assurance report
Evidence stateCurrent verifiedFresh evidence ≠ safe
  • Cash at regulated financial institutions400.05M EUR
  • Timing/settlement net60,349 EUR

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Backing Flow

Holder → issuer or protocol → backing → custody or hedge → verification. Unknown links stay labeled UNKNOWN.

HolderToken holder
IssuerCircle SAS
BackingEUR cash reserves
BankUNKNOWN
VerificationDeloitte examination

Can you redeem it directly?

Exchange trading is not issuer redemption.

Direct issuer redemption

Eligibility restricted

Eligible
Par redemption right under MiCA; operational via Circle Mint
KYC
Required
Minimum
Not published
Fee
Not published

Who controls what?

Who can mint, freeze, pause, upgrade, or govern — as evidence, not a safety score.

ControlPresentControllerEvidenceSource
MintYESCircle SAS / MintVERIFIED—
FreezeUNKNOWNUNKNOWNUNRESOLVED—
BlacklistUNKNOWNUNKNOWNUNRESOLVED—
PauseUNKNOWNUNKNOWNUNRESOLVED—
UpgradeUNKNOWNUNKNOWNUNRESOLVED—
GovernanceUNKNOWNUNKNOWNUNRESOLVED—

Mint

YES

ControllerCircle SAS / Mint

Freeze

UNKNOWN

ControllerUNKNOWN

Access Denied tokens defined in report criteria

Blacklist

UNKNOWN

ControllerUNKNOWN

Pause

UNKNOWN

ControllerUNKNOWN

Upgrade

UNKNOWN

ControllerUNKNOWN

Governance

UNKNOWN

ControllerUNKNOWN

How is the backing independently checked?

Report type matters.

Assurance report

Independent assurance / examination of a reserve assertion — not “audited” shorthand.

Provider
Deloitte & Touche LLP
Report
AICPA examination — not an audit shorthand
Report date
Jul 31, 2026
Covered assets
EURC reserve assets
Covered liabilities
EURC in circulation
Scope limitation
Point-in-time examination

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Reserve history

Append-only verified snapshots only. No synthetic series.

Latest verified snapshot

Jul 31, 2026

Deloitte & Touche LLP EURC Examination Report (July 2026)

400.11M EUR · circ 397.36M EUR

Current verifiedFresh evidence ≠ safe

What does this stablecoin depend on?

Structural dependencies only.

  • Circle SAS
  • Reserve banks
  • Circle Mint
  • Multi-chain

Answer-first evidence blocks

What backs EURC?

As of 2026-07-31: euro cash at regulated financial institutions plus a small settlement net — not USDC dollar reserves.

Who issues EURC?

Circle Internet Financial Europe SAS (sole issuer from 2024-07-01).

Regulatory structure

  • Circle SAS ACPR EMI + AMF CASP — entity-scoped.
  • Never write: EURC is regulated as a brand.

Unresolved / open gaps

  • Named banks
  • Canonical contract address table
  • Named banks UNKNOWN in examination extract.

Related evidence links

Stablecoin Evidence interface. No safety score. No investment recommendation. Unresolved evidence remains unresolved.