Disclaimer: The materials presented here are for educational purposes only. The products and services mentioned here may not be available in your area.

Key points:

  • EURI is a stablecoin backed by the Euro and regulated by the European MiCA framework.

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

  • Eurite runs on Ethereum and BNB Smart Chain, providing fast and secure transactions.

What is EURI?

Eurite (EURI) is a stablecoin backed by the euro. The value of EURI is pegged to the value of the euro at a 1:1 ratio. Stablecoins like EURI are particularly useful for users who want to enjoy the speed and simplicity of digital transactions without having to worry about the volatility of the crypto asset market.

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

Key Features of Eurite (EURI)

1. Compliance with MiCA standards

EURI is one of the first stablecoins to comply with the European legislation MiCA (Markets in Crypto Assets) which regulates digital assets in the European Economic Area (EEA). Essentially, it is a set of rules that ensure the safety and reliability of stablecoins like EURI.

2. Blockchain support

Eurite operates as an ERC-20 token on the Ethereum blockchain and as a BEP-20 token on the BNB Smart Chain (BSC). These widely used blockchains allow for easy trading, storage, and transfer of EURI. Both blockchains use Proof of Stake (PoS), which allows for faster and more efficient transaction confirmation.

3. Pegged to the euro

EURI is pegged to the euro at a 1:1 ratio, meaning it aims to track the value of the euro as closely as possible. This is achieved by backing each EURI issued with an equivalent amount of euros, held in a secure fiat reserve account. This peg helps mitigate the volatility often seen in other cryptocurrencies, providing users with a stable digital asset.

4. Security and Audit

To ensure security and transparency, EURI's smart contracts have been audited by blockchain security firms such as PeckShield. Banking Circle ensures that the funds backing EURI tokens are regularly audited to confirm that each EURI is properly secured.

How does Eurite (EURI) work?

Regular users can buy, sell, or trade EURI on cryptocurrency exchanges like Binance, where you will find trading pairs like EUR/EURI or EURI/USDT.

If you are a business or institutional player, getting EURI is relatively easy. All you need to do is create an account and deposit euros into Banking Circle, and in return they will mint (create) an equivalent number of EURI tokens and add them to your dedicated wallet.

You can use EURI tokens for trading, payments, or other purposes. When you no longer need the tokens, you can exchange them for EUR through your Banking Circle account. They will “burn” the EURI tokens and send you the equivalent amount in euros.

Usage options and benefits

Digital asset transactions

EURI facilitates fast and efficient settlement of digital asset transactions, making it an ideal choice for exchanges and payment platforms. Using EURI to trade on platforms like Binance is very simple.

Cheap international payments

Tired of high fees and slow international transfers? With EURI, you can transfer money internationally for a fraction of the cost, and it's much faster than traditional methods.

Calculation during non-working hours

Want to make a deal or transfer money late at night when banks are closed? No problem! Thanks to blockchain technology, EURI transactions can take place 24/7, providing a significant advantage over traditional banking systems.

Decentralized Finance (DeFi)

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

Why EURI is important

Stablecoins like EURI play an important role in the broader cryptocurrency ecosystem, providing stability in a volatile market. While cryptocurrencies like bitcoin and ether often experience large price swings, stablecoins tend to offer more predictable value.

MiCA regulation adds a level of trust and regulatory support. EURI has legal backing that many other stablecoins lack, making it a reliable euro-denominated stablecoin for both retail users and institutional investors.

Results

Eurite (EURI) is a promising stablecoin designed to bridge the gap between traditional fiat currencies and the blockchain world. With its peg to the euro, a robust regulatory framework, and a wide range of use cases, EURI offers an efficient solution for digital transactions.

Disclaimer: As per MiCA requirements, unauthorized stablecoins are subject to certain restrictions for users from the European Economic Area. For more information, click here.

Disclaimer: This content is provided to you "as is" for general information and educational purposes only, without any representations or warranties of any kind. It should not be construed as financial, legal, or other professional advice, and is not intended to be a recommendation to purchase any specific product or service. You should consult your appropriate professional advisors for advice. If the article is written by a third-party author, please note that the opinions expressed are those of the third-party author and do not necessarily reflect the views of Binance Academy. For more information, please see our full disclaimer here. The prices of digital assets can be volatile. The value of your investments may fall as well as rise, and you may not get back the amount you invested. You are solely responsible for your investment decisions, and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal, or other professional advice. For more information, please review our Terms of Use and Risk Warning.