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Binance Adds Support for New Regulated Euro-Pegged Stablecoin Project

3 weeks ago

Binance, the world’s leading cryptocurrency exchange, has expanded its offerings to include Eurite (EURI), a newly minted euro-backed stablecoin.

The exchange has confirmed that EURI trading pairs will be available in both euro and US dollars at 10:00 UTC on August 28th.

Binance has announced that Eurite (EURI), a newly regulated euro-backed stablecoin, will be available for trading on its platform with zero fees for a limited time.

Created by Banking Circle, EURI is designed to be the first euro-pegged stablecoin compliant with the European Union’s Markets in Crypto Assets Regulation (MiCA). The token is available as both an ERC-20 token on Ethereum and a BEO-20 token on BNB Smart Chain.

Says Daniel Lee, head of Web 3 at Banking Circle,

“By combining cutting-edge technology for the digital asset industry and ensuring compliance with the latest European regulations, Banking Circle can provide stablecoin users with the robust banking service and infrastructure they deserve and make stablecoins accessible to a wider audience wanting 24/7 access to instant payments.

The launch of EURI establishes strong foundations and functionality for Banking Circle that will enable us to launch stablecoins and tokenized money in the future, providing more choice and optionality for the market.”

Generated Image: DALLE3

Source: dailyhodl.com

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