the new euro-pegged stablecoin compliant with MiCA

Binance has announced the listing of Eurite (EURI), the new stablecoin pegged to the euro 1:1 in compliance with the MiCA regulation. EURI is issued by a credit institution on Binance Pay. On this occasion, the famous crypto-exchange has launched a promotion on Simple Earn.

Binance lists the new stablecoin Eurite (EURI) compliant with MiCA

Binance has announced the new listing of the stablecoin Eurite (EURI) compliant with MiCA, issued by the credit institution, on Binance Pay.

Binance adds $Eurite (EURI) to Convert and “Buy Crypto”.

#Binance has recently listed $EURI, one of the first stablecoins regulated by MiCA, supporting our company’s strategy on regulatory compliance. Trading for the spot trading pairs EUR/EURI and EURI/USDT is open with zero fees until further notice.

The integration of EURI on Binance Pay is made possible thanks to the collaboration with Banking Circle S.A., an innovative bank that stands out for its advanced technological solutions in the field of payments.

The compliance of EURI with MiCA aims to offer users a guarantee and greater protection, minimizing exchange risks, and reducing exposure to stablecoins backed by foreign currencies.

Furthermore, for European users there is also the advantage of being able to rely on the simplicity of keeping trading in their local fiat currency, eliminating the need to calculate exchange rates.

At the time of writing, Eurite (EURI) already has a total of over 27 million dollars in market cap.

Binance and the new MiCA-compliant stablecoin: the promotion on Simple Earn

For the occasion, the famous crypto-exchange has also launched a special promotion on one of its popular products, Simple Earn.

This is a campaign that provides that from August 30 to September 12, users who subscribe to EURI Simple Earn products will be able to obtain up to 7% APR on the first 1000 EURI subscribed.

In any case, regarding the new listing of EURI on Binance, Jonathan Lim, Global Head of Binance Pay, commented:

“At Binance Pay, we are committed to enhancing our payment system to simplify and improve the daily transaction experience for our users. The integration of EURI is a significant step towards transforming digital currencies into a mainstream payment method, thus promoting greater financial inclusion and driving innovation in the global payments landscape.”

Also Gianluigi Guida, CEO of Binance Italy, stated the following:

“The offer of EURI as a MiCA regulated stablecoin provides our users with a new option for managing their cryptocurrencies. In addition to the advantages of using a regulated and reliable stablecoin, the ability to manage one’s portfolio in their own fiat currency adds a level of convenience that we are certain many Binance users will appreciate.”

The wait for the launch of RLUSD

In the meantime, speaking of stablecoin, the crypto community is curious to find out when the official launch of the new Ripple USD (RLUSD) will be.

In fact, even the CEO of Ripple, Brad Garlinghouse, made references to the launch of RLUSD during the Korea Blockchain Week, stating that it is an expectation of “weeks and not months.”

This means that already in this 2024, RLUSD will be in circulation. The announcement of RLUSD came last August, and already at the end of the same month, the crypto company announced the success of the beta testing for the new crypto pegged to the US dollar.

Not only that, last month as well, Ripple announced that it had minted and burned a first batch of tokens.