One of the World’s Oldest Banks Is Issuing a Euro Stablecoin on Stellar
Germany’s Bankhaus von der Heydt is working with Bitbond for the first direct issuance of a stablecoin by a bank on Stellar, the firms said.
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The EURB is fully regulated and backed 100% by Euros, allowing banks and institutional investors to use the cryptocurrency without exposure to counterparty risk. Germany’s Bankhaus von der Heydt, or BVDH, has launched a Euro stablecoin on the Stellar network. The bank claims the token is the first of its kind to be issued by a banking institute.The EURB stablecoin, which went live today, was developed on the Stellar blockchain in partnership with tokenization and digital asset custody technology provider Bitbond.The asset, which is fully regulated and backed one for one with Euros, will....
Bankhaus von der Heydt partnered with Bitbond to launch its euro-backed stablecoin on Stellar last week.
Anclap expects to launch two more Stellar-based stablecoins for Chile and Colombia later this year. Latin American stablecoin issuer Anclap is expanding its Stellar-based stablecoin network by launching a new stablecoin in Peru, Cointelegraph en Español reports.Pegged to Peru’s official fiat currency, the Peruvian sol (PEN), the new stablecoin is designed to enable instant transactions across Anclap’s network, including conversions to other fiat currencies as well as “any other digital asset,” the firm announced Saturday.Called the “digital sol,” the stablecoin is said to be 100% backed by....
The OCC published guidance allowing U.S. banks to work with stablecoin issuers. Meanwhile, the ECB thinks the term stablecoin can be "misleading."
While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the last seven months. Euro-Pegged Stablecoins Cross Half a Billion in Value Since the Start of the Year Today, most of the stablecoin economy’s value is based on tokens backed by the U.S. dollar, but a small number of....