Eurite (EURI), compliant with EU's MiCA regulation, enhances security for European users with new trading pairs on Binance.
Binance, one of the world's leading cryptocurrency exchanges, has announced that it will list Eurite (EURI), a Euro-pegged stablecoin regulated under the European Union's Markets in Crypto-Assets (MiCA) regulation. This listing is set to begin on August 28, 2024. The move marks a significant step in Binance's strategy to support MiCA-compliant stablecoins and enhance security for users in the European Economic Area (EEA).
Eurite, abbreviated as EURI, is a stablecoin that is pegged to the Euro. This means that for every EURI issued, there is an equivalent amount of Euros held in reserve. EURI is issued by Banking Circle S.A., a financial institution that ensures the stablecoin's compliance with MiCA regulations. The aim is to provide a stable and secure digital asset that can be used for trading and transactions within the cryptocurrency ecosystem.
The Markets in Crypto-Assets (MiCA) regulation is a comprehensive framework established by the European Union to govern the issuance and trading of crypto assets. MiCA sets uniform rules for crypto asset issuers and service providers within the EU, aiming to enhance consumer protection and market integrity. By adhering to these regulations, EURI aims to offer a higher level of security and reliability for its users.
Starting from August 28, 2024, EURI will be available for trading on Binance with two primary trading pairs: EUR (Euro) and USDT (Tether). This allows users to trade EURI directly with Euros or with Tether, another widely used stablecoin. The introduction of these trading pairs is expected to provide more flexibility and options for traders and investors.
Binance's decision to list EURI is part of its broader strategy to support MiCA-compliant stablecoins. This move aligns with the exchange's commitment to enhancing security and compliance within the cryptocurrency market. Binance has also announced plans to phase out non-compliant stablecoins by June 2024, ensuring that all stablecoins listed on the platform meet MiCA regulations.
