Binance to List Eurite (EURI): A Pioneering MiCA-Regulated Euro Stablecoin

About Eurite (EURI)

Eurite (EURI) is a Euro-pegged stablecoin issued by Banking Circle S.A., designed to offer stability and efficiency in financial transactions. As one of the first stablecoins regulated under MiCA, EURI ensures compliance with stringent EU standards, providing enhanced trust and credibility for its users. The stablecoin is backed 1:1 by cash in Euros, ensuring price stability and reducing the risks typically associated with digital assets.

Eurite operates as both an ERC-20 token on the Ethereum blockchain and a BEP-20 token on the BNB Smart Chain, offering versatility and accessibility across different platforms. The stablecoin is available for use 24/7, facilitating faster and more efficient financial transactions, especially in areas like remittances, out-of-hours settlements, and decentralized finance (DeFi).

Key Features of EURI

• Regulatory Compliance: EURI is fully regulated under the MiCA framework, ensuring consumer protection, financial stability, and transparency.
• Stability: Pegged 1:1 to the Euro and backed by cash, EURI is designed to resist volatility, making it a reliable medium of exchange.
• Blockchain Integration: As a token built on both Ethereum and BNB Smart Chain, EURI leverages blockchain technology for secure and efficient transactions.
• Wide Applications: EURI can be used for various purposes, including digital asset settlement, managing volatility exposure, remittances, and smart contracts in the DeFi space.

How EURI Works

EURI is issued by Banking Circle S.A. after successfully completing Know Your Customer (KYC) checks and onboarding processes. Institutional users, such as exchanges and liquidity providers, can purchase EURI by depositing Euros into Banking Circle’s bank account.

Once the deposit is received, Banking Circle mints an equivalent amount of EURI and transfers it to the user’s wallet. These tokens can then be traded, stored, or used for various financial transactions. When EURI is returned to Banking Circle, it is burned, and the corresponding Euros are returned to the user’s bank account.