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Euro Tether
About Euro Tether
Euro Tether (EURT) is a stablecoin cryptocurrency pegged to the Euro (EUR). It’s part of the Tether network, which issues stablecoins tied to various fiat currencies. EURT aims to combine the unrestricted nature of cryptocurrencies with the stable value of the Euro, offering a medium of exchange for digital transactions with minimal price volatility. It’s used by traders and investors to move funds quickly between cryptocurrency exchanges and as a haven during times of high volatility. The creators of Euro Tether are linked to the original team behind the Tether platform.
Euro Tether (EUR₮) is a stablecoin issued by Tether Limited, pegged 1:1 to the euro. Introduced in 2016, EUR₮ was designed to provide a digital asset reflecting the value of the euro, facilitating seamless transactions and trading within the cryptocurrency ecosystem. Each EUR₮ token was backed by reserves to maintain its parity with the euro.
EUR₮ served multiple purposes in the digital asset space:
- Trading and Liquidity: Offered a stable medium for trading pairs on various cryptocurrency exchanges, enabling users to transact in a euro-pegged digital asset.
- Cross-Border Transactions: Facilitated efficient international payments and remittances by leveraging blockchain technology.
- Decentralised Finance (DeFi): Integrated into DeFi platforms, allowing users to participate in lending, borrowing, and yield farming activities using a euro-backed stablecoin.