Trading for the brand new spot pairs, EUR/EURI and EURI/USDT, will begin on August 28, 2024, at 10:00 (UTC). To mark the launch, Binance is providing a zero-fee promotion for these buying and selling pairs.
About Eurite (EURI)
Eurite (EURI) is a Euro-pegged stablecoin issued by Banking Circle S.A., designed to supply stability and effectivity in monetary transactions. As one of many first stablecoins regulated below MiCA, EURI ensures compliance with stringent EU requirements, offering enhanced belief and credibility for its customers. The stablecoin is backed 1:1 by money in Euros, guaranteeing value stability and decreasing the dangers sometimes related to digital property.
Eurite operates as each an ERC-20 token on the Ethereum blockchain and a BEP-20 token on the BNB Smart Chain, providing versatility and accessibility throughout totally different platforms. The stablecoin is on the market to be used 24/7, facilitating sooner and extra environment friendly monetary transactions, particularly in areas like remittances, out-of-hours settlements, and decentralized finance (DeFi).
Key Features of EURI
- Regulatory Compliance: EURI is totally regulated below the MiCA framework, guaranteeing shopper safety, monetary stability, and transparency.
- Stability: Pegged 1:1 to the Euro and backed by money, EURI is designed to withstand volatility, making it a dependable medium of trade.
- Blockchain Integration: As a token constructed on each Ethereum and BNB Smart Chain, EURI leverages blockchain know-how for safe and environment friendly transactions.
- Wide Applications: EURI can be utilized for numerous functions, together with digital asset settlement, managing volatility publicity, remittances, and sensible contracts within the DeFi area.
How EURI Works
EURI is issued by Banking Circle S.A. after efficiently finishing Know Your Customer (KYC) checks and onboarding processes. Institutional customers, akin to exchanges and liquidity suppliers, should buy EURI by depositing Euros into Banking Circle’s checking account.
Once the deposit is obtained, Banking Circle mints an equal quantity of EURI and transfers it to the consumer’s pockets. These tokens can then be traded, saved, or used for numerous monetary transactions. When EURI is returned to Banking Circle, it’s burned, and the corresponding Euros are returned to the consumer’s checking account.
