A rebranded crypto platform has launched a decentralized stablecoin that’s pegged to the euro, and says this asset will be crucial in encouraging the next wave of adoption.
The euro is the official currency for the 19 European countries of the Eurozone, along with another nine countries. The euro is the main competitor of the dollar and it has a leading position of being the one of the major reserve currencies. European banks use euro to raise funds in order to secure their core business. This fact makes the euro a funding currency. In terms of cryptocurrency, the euro is used as frequently as the dollar for conversion into digital currency and vice versa, that can be seen for the most popular requests in the Internet such as Euro to Bitcoin, Satoshi in Euro and so on. Besides that, the euro and blockchain technologies are connected, as many investments into these technologies are made in euro by European investors.
"Who’s gonna use the euro in its current form? There are gonna be so many choices," said ConsenSys South Africa lead Monica Singer.12479
Privacy concerns regarding the digital euro abound as the European Central bank tests the waters for a central bank digital currency.16293
The EIB has reportedly hired banks like Goldman Sachs and Société Générale to explore a digital bond registered and settled via blockchain.16304
The ECB will decide whether to proceed with digital euro pilots by mid-2021, Lagarde said.6453
A future digital euro wouldn't be a threat to savers, say officials from the European Central Bank.8278
The new coin is named after a god in Irish mythology and will go by the ticker symbol EURL.21101
The ECB President gives the impression that central banks will avoided copying institutions in hoarding cryptocurrency.21386
The central bank said it will reach a decision on releasing a digital euro "towards the middle of 2021."4625
“What happens when the world and the U.S. dollar is in a continual state of quantitative easing?” Can BTC find a new and unexpected role for itself?33509
2021 and 2022 are touted to be the most important years for the development of CBDCs.13096
A new pool allows European and Asian users to avoid U.S. dollar exposure.10186
The crypto world does not have a major euro-pegged stablecoin yet.5003
The EURB is fully regulated and backed 100% by Euros, allowing banks and institutional investors to use the cryptocurrency without exposure to counterparty risk.19381
The decision on how to launch a digital euro could still be a long time coming.4519