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SatoshiPay to Become First User of German Bank's Euro Stablecoin
Bankhaus von der Heydt partnered with Bitbond to launch its euro-backed stablecoin on Stellar last week.
Cryptocurrency payments provider SatoshiPay has inked a deal with German bank Bankhaus von der Heydt to become the first user of its recently revealed euro-backed stablecoin (EURB).
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- Announced Tuesday by SatoshiPay investor Blue Star Capital, the payments firm plans to integrate the regulatory complaint EURB into its cross border money transfer service called DTransfer.
- Bankhaus von der Heydt, an institution established in 1754, partnered with Bitbond to launch its euro-backed stablecoin on Stellar last week.
- Bitbond played a role in the development and integration of EURB, while Bankhaus von der Heydt provides its banking infrastructure and regulatory framework.
- U.K. based Blue Star, which has a 27.7% stake in the company, said the addition of EURB would be good for SatoshiPay users.
- Bankhaus von der Heydt brings "a stable on and off-ramp for EURB transactions with instant EUR-based bank transfers within the Single Euro Payments Area," according to the announcement.
See also: Stellar Throws SatoshiPay a $550K Lifeline After Coronavirus Knocks Out Series A
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
