EURST – the need for asset-backed stablecoins in uncertain times
Several experts believe stablecoins to be the future of cryptocurrencies. As the name suggests, stablecoins are safer and more resilient to crypto volatility than other cryptocurrencies. Some stablecoins are backed by fiat currencies like USD or EUR, while others are backed by hard assets like gold, diamonds, oil, etc.
People prefer stablecoins because of their base wealth, which helps make crypto tokens more resilient to fluctuations. Since they are not ruled by a single entity, they remain decentralized whether or not they are pinned by an asset.
Over time, several blockchain projects have launched their own stablecoins backed by various fiat and hard assets. However, Eurst was the first platform to develop a Euro Stable Token to digitize the Euro currency and initiate a crypto transition in the European economy.
EURST – Banking on the Future
EURST is a live verified asset-backed euro stablecoin that offers its users stability and transparency. The company aims to improve the standards of currency exchange in the European economy by introducing a robust stablecoin into the mix.
- Transparent: EURST is certified by the best audit technology and live update certificates of deposits to ensure complete transparency.
- Rimless: EURST offers fast blockchain transactions and easy access in over 100 countries.
- Fully secured: EURST is 100% secured and stores all assets in a secure escrow account.
Stablecoins are inherently safer to trade and store as they are less likely to be manipulated for your own benefit. Some of the advantages of stablecoins like EURO Stable Token are,
Stablecoin accelerates financial processes through the use of smart contracts. People can carry out transactions at any time of the day and, thanks to the decentralized blockchain technology, transfer or receive money quickly.
Cross-country transactions are usually expensive with fiat currencies. However, these high transaction costs can be bypassed with stable coins as they are more interoperable and do not charge high transaction fees.
Cryptocurrencies are transparent, anonymous and limitless, which makes them the perfect solution for cross-border transfers. Several countries, such as Venezuela, restrict the transportation of fiat out of the country or the international transfer of large quantities. Stablecoins are a great alternative as they are not subject to any institution.
All transactions made with stablecoins are transparent and are stored on the blockchain network. Anyone can review these transactions at any time as they are publicly available, which increases trust.
All cryptocurrencies are digital currencies that work with codes. These codes make stablecoins programmable and allow the underlying architecture and protocols to be modified. For example, companies have built loyalty programs on their stablecoins to encourage their use.
Stablecoins are built into APIs to offer more financial services to users. EURST will create an API for Euro Stable Token that can be integrated into various dApps. These APIs make stablecoins more accessible, interoperable, and user-friendly.
EURST is a live verified asset-backed stablecoin that offers ease of use and can be redeemed on the same day with no fees. It is the world’s first US-based stablecoin to be offered on the major crypto exchanges.
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