EURI is a leading stablecoin pegged 1:1 to the Euro and fully backed by EURO as fiat currency, ensuring its stability and reliability. The coin is issued by Banking Circle S.A. EURI stands out as one of the first Euro stablecoins regulated under the Markets in Crypto-Assets Regulation (MiCA) within the European Economic Area (EEA). This regulation provides a robust framework that promotes trust, transparency and consumer protection in the rapidly evolving world of digital assets.
What's new with the euro-backed stablecoin EURI?
The stable currency has been listed on most trading platforms to be a counterpart for trading, investing, and hedging against violent cryptocurrency fluctuations. The most important of these platforms is Binance. The stable currency comes with:
Organization and issuance
The EURI is issued by Banking Circle S.A., a credit institution licensed and supervised by the Luxembourg Financial Sector Surveillance Commission (CSSF).
Compliance with MiCA standards ensures high levels of transparency, consumer protection, and financial stability, making EURI a reliable choice for users looking for regulated digital asset solutions.
Blockchain integration
EURI is available as an ERC-20 token on the Ethereum blockchain and as a BEP-20 token on the BNB Smart Chain. This dual chain provides flexibility and accessibility to users on both popular blockchains.
Transactions on Ethereum use the Proof of Stake (PoS) mechanism, while transactions on the BNB Smart Chain use Proof of Stake Authority (PoSA), ensuring that transactions are processed securely, efficiently, and transparently.
24/7 Availability and Redemption: EURI tokens can be accessed and traded at any time, supporting the 24/7 nature of digital asset markets.
Tokens are fully redeemable at no cost, providing users with the flexibility to seamlessly convert their digital assets into fiat currency.
Client funds are segregated from Banking Circle assets.
Client funds are kept separate from Banking Circle's own assets, ensuring that in the unlikely event of the issuer's bankruptcy, funds remain protected and accessible to EURI holders.
This chapter is in line with the Protected Client Money Act 2003, providing an additional layer of security and confidence.
Smart Contracts and Auditing
EURI smart contracts are audited by PeckShield, a well-known security auditing firm in the blockchain industry, ensuring that the tokens in circulation are backed strictly 1:1 by the euro.
Regular certifications by top-tier auditors confirm the transparency and reliability of EURI's financial support.
EURI Applications
EURI provides a fast and efficient settlement method for various digital assets, simplifying transactions across platforms.
Designed to withstand market volatility, EURI maintains its value by being pegged 1:1 to the euro and backed by cash, providing a stable alternative to more volatile cryptocurrencies.
EURI removes traditional barriers and delays associated with cross-border transactions, enabling fast and cost-effective international payments.
EURI facilitates transactions outside of traditional banking hours, leveraging the 24/7 operational capabilities of blockchain.
EURI can be integrated into smart contracts, paving the way for a wide range of innovative DeFi applications, from lending and borrowing to automated trading strategies.
How does the EURI stablecoin work?
Purchase process
After successful customer identity verification and registration, institutional users such as exchanges, liquidity providers or trading platforms can sign up to buy EURI from Banking Circle S.A. by depositing EUR into the bank account of the issuer such as Binance.
Minting and Distribution
Upon receipt of the EUR deposit, Banking Circle mints an equivalent amount of EURI tokens and transfers them to the user's wallet.
Trading and Transactions
The tokens can then be traded, stored, or used in transactions 24/7, supporting a wide range of digital asset activities.
Refund
When EURI tokens are returned to Banking Circle, they are burned, and the equivalent amount of euros is returned to the institutional user's bank account.
Binance Lists Eurite (EURI) with Zero Trading Fee Offer
Binance, one of the worldâs leading cryptocurrency exchanges, has announced the listing of Eurite (EURI), one of the first euro-denominated stablecoins regulated under the Markets in Crypto-Assets Regulation (MiCA) within the European Economic Area (EEA). The listing will open up new trading opportunities for users and offer zero-trading-fee promotions on select EURI pairs.
