On February 14, the central bank reported that the People's Bank of China has launched a newly revised narrow currency (M1) statistical caliber since the statistics of January 2025. The revised M1 includes: currency in circulation (M0), unit demand deposits, individual demand deposits, and customer reserves for non-bank payment institutions.
Base announced in a post on the X platform that in order to update the system, each currency needs to be on the chain, first the US dollar, and now the euro. The euro stablecoin EURC supported by Circle is about to land on Base. From now on, developers can obtain EURC on the testnet.