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Key points

  • EURI is a Euro-pegged stablecoin that complies with the European MiCA law.

  • EURI is issued by Luxembourg-based Banking Circle SA, and its smart contracts have been audited by blockchain auditors such as PeckShield.

  • Eurite enables fast and secure transactions on Ethereum and BNB Smart Chain (BSC).

What is EURI

Eurite (EURI) is a stablecoin pegged 1:1 to the euro. Stablecoins like EURI offer high transaction speeds without the technical hassle and volatility of the cryptocurrency market.

The EURI token is issued by Banking Circle SA, a Luxembourg-based financial institution. It maintains a 1:1 peg to the euro, meaning that for every EURI in circulation, there is an equivalent amount of euros in reserves. This stablecoin ensures secure, fast, and low-cost transactions.

Features of Eurite (EURI)

1. Compliance with MiCA standards

EURI is one of the first stablecoins to comply with MiCA (Markets in Crypto-Assets), the European Economic Area (EEA) regulation on markets in crypto-assets. This is a set of rules that help maintain the safety and stability of stablecoins like EURI.

2. Blockchain support

Eurite operates as an ERC-20 token on the Ethereum blockchain and a BEP-20 token on the BNB Smart Chain (BSC). EURI can be freely stored on these popular platforms, and the tokens can be used for trading, storage, and transfers. Both blockchains use Proof of Stake (PoS) mechanisms to confirm transactions quickly and efficiently.

3. Pegging to the euro

EURI is pegged 1:1 to the euro, meaning it aims to track the value of the euro as closely as possible. The peg is achieved by backing each EURI issued with an equivalent amount of euros in a fiduciary reserve account. This helps eliminate the volatility associated with other cryptocurrencies and provide users with a stable digital asset.

4. Security and audit

For greater security and transparency, EURI smart contracts have been audited by blockchain auditors such as PeckShield. Banking Circle ensures that EURI token reserves are regularly audited and that each coin is properly backed.

How Eurite (EURI) Works

Regular users can buy, sell or trade EURI on crypto exchanges such as Binance, where the EUR/EURI and EURI/USDT trading pairs are available.

Businesses and corporate users can easily obtain EURI tokens by creating a Banking Circle account and making a deposit in euros. In return, the platform will issue an equivalent amount of EURI tokens and add them to the specified wallet.

EURI can be used for trading, payments and other purposes. If desired, the token can be exchanged back for euros through a Banking Circle account. The platform will "burn" unnecessary EURI and credit the account with an equivalent amount of euros.

Application and advantages of tokens

Digital asset transactions

EURI offers fast and efficient settlement of digital asset transactions, making it ideal for exchanges and payment services. EURI can be used for trading on platforms such as Binance.

Cheap international payments

Tired of high fees and slow transfers when sending money abroad? EURI allows you to make international money transfers for a small fee and with faster processing than traditional payment methods.

Payments outside working hours

Want to make a transaction or transfer money late at night when the banks are closed? No problem! Thanks to the blockchain, EURI transactions can be made at any time of the day, unlike transactions through traditional banking systems.

Decentralized Finance (DeFi)

EURI is also designed for use in the DeFi space. Smart contracts using EURI can automate financial transactions such as loans, trades, and investment strategies without the need for intermediaries. This opens up a wide range of potential use cases as the DeFi space continues to grow.

EURI Advantages

Stablecoins like EURI play an important role in the broader crypto ecosystem by providing stability in a volatile market. Cryptocurrencies like Bitcoin and Ethereum often experience significant price fluctuations, while stablecoins maintain a more predictable value.

MiCA compliance adds an extra layer of trust. EURI has a legal backing that many other stablecoins lack, making it a trusted euro-denominated stablecoin suitable for both individual users and corporate investors.

In conclusion

EURITE (EURI) is a promising stablecoin that helps bridge the gap between traditional fiat currencies and the blockchain world. With its peg to the euro, robust regulatory framework, and wide range of use cases, EURI becomes an effective tool for digital transactions.

Disclaimer: In accordance with MiCA requirements, certain restrictions will apply to EEA users when dealing with unauthorized stablecoins. Further information is available via link.

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