Binance List MiCA Regulated Euro Stablecoins, Eurite (EURI)

• Binance recently announced its plan to list Eurite (EURI), one of the first Markets in Crypto-Assets Regulation (MiCA) Regulated Euro stablecoins, on its platform.
• As a result, Eurite (EURI) will now be available on spot trading pairs EUR/EURI and EURI/USDT on Aug 28.
• Interested users can start depositing, trading, and withdrawing EURI stablecoin, as of Aug 29.

Binance, the largest Cryptocurrency exchange by trading volume, has announced today its plan to list Eurite (EURI), a MiCA-compliant stablecoin pegged to the Euro. EURI, launched barely two days ago, is the first bank-backed stablecoin to be regulated under MiCA within the European Economic Area (EEA).

Eurite (EURI) New Spot Pairs, EUR/EURI and EURI/USDT, To Be Listed On August 28, 2024, At 10:00 (UTC)

Starting on August 28, 2024, at 10:00 (UTC), trading for EURI’s new spot pairs, EUR/EURI and EURI/USDT, will commence on the Binance platform. More so, the deposit of EURI stablecoin will start on August 29, in preparation for trading and withdrawals of the stablecoin. 

The announcement revealed that the EUR/EURI and EURI/USDT trading pairs are currently available only to users in the EU region. Users from countries like the US, Iran, Japan, Cuba, Canada, and so on will not have access to the spot trading pairs.

Binance Offers “Zero-Fee Promotion” for EURI Trading Pairs

To celebrate the launch of this stablecoin, Binance announced that it will offer a zero-fee promotion for the trading pairs. That means users won’t have to pay any fees on EURI trading pairs during the zero-fee promotion period. 

The promotion commences on August 28 and will continue until further notice.

About Eurite (EURI), The First Bank-Backed Stablecoin

Eurite (EURI), launched on Saturday, August 24, 2024, is a bank-backed Euro-pegged stablecoin. This means EURI is backed 1:1 by EUR cash, ensuring price stability and risk reduction. It was issued by Banking Circle S.A., a payment bank based in Luxembourg. 

During the launch of the stablecoin, Banking Circle S.A. stated that the stablecoin would be launched first on the Binance crypto exchange, then CoinUT Switzerland AG, before launching on other crypto exchanges.

The stablecoin was touted to offer efficiency, stability, and speed in financial transactions, such as out-of-hours settlements, remittances, and in decentralized finance (DeFi).

EURI is fully compliant with the European Union’s Markets in Crypto Assets Regulation (MiCA) stringent regulations. As a result, transacting with EURI offers improved credibility and trust for its users.

EURI is both a BEP-20 token on the BNB Smart Chain and an ERC-20 token on the Ethereum blockchain. Hence, it offers accessibility and versatility across various platforms. 

According to Head of Web 3, Banking Circle, Daniel Lee,

“The launch of EURI establishes strong foundations and functionality for Banking Circle that will enable us to launch stablecoins and tokenized money in the future, providing more choice and optionality for the market.