Are you looking to cash out your gains on cryptocurrency but still want a financial vehicle backed by a real currency? Look no further. Euro Coin — a euro-denominated stablecoin backed by full reserves is here. It’s designed to provide instant and reliable access to the euro’s stability while also allowing users to avoid some of the limitations associated with traditional fiat currencies.
Designed for stability, Euro Coin is 100% backed by euros held in euro-denominated banking accounts so that it’s always redeemable 1:1 for euros. Your funds are always safe and can be withdrawn at any time.
Euro Coin was created as part of a mission to make it easier for people worldwide to use digital money for everyday transactions.
Built To a Higher Standard
Circle issues Euro Coin (EUROC) under the same full-reserve model as USD Coin (USDC), a trusted digital dollar currency with more than $54 billion in circulation. This means that all Euro Coins are backed 1:1 with euros held in reserves at all times so that they can be redeemed through any Euro Coin issuer.
How has Euro Coin has been built to a higher standard:
- The EUROC token is backed by physical euro deposits held at a top-tier financial institution, subject to regular third-party audits.
- EUROC is fully collateralised by these assets and redeemable at any time through the Circle website or mobile app.
- EUROC tokens are available on Circle Trade, Coinbase Pro, Poloniex and Bittrex.
Euro Coin can be used wherever U.S. dollars are accepted, including physical stores where payment terminals accept debit or credit cards or online merchants that accept credit card payments or PayPal.
A New Era of FX & Digital Banking Is Here
A new era is upon us. The Euro Coin is a new kind of stable coin backed by the euro, with no trading fees and an annual gross margin rate of 5%. Euro Coin is a next-generation digital currency issued within the Euro Clearing and Settlement system. It’s backed by euros, making it a stable currency you can trust.
The linkage between Euro Coin and USDC enables global banks and financial services firms to use Euro Coin as a safe and regulated digital money while accessing the USDC stablecoin as a new medium of exchange to facilitate cross-border payments in their global operations. We believe the future of finance is digital and that humans should be free to pay for goods and services at any time of day, from any location.
Key Takeaway Points
For traders: Euro Coin provides a cost-effective way to buy or sell cryptocurrencies in a single transaction. Your funds are always held in a stable currency, so you don’t have to worry about exchange rate risk or price volatility. And because it’s so easy to use, you can make trades faster than ever.
For consumers: With Euro Coin, you can make purchases online or shop worldwide without worrying about losing money due to exchange rate fluctuations or hidden fees — all while earning loyalty rewards (such as cashback) when shopping with your favourite merchants online or offline.
Image Source: Adobe Stock
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
