EURST, a fiat-backed stablecoin based on the Ethereum network’s ERC20 token standard, has announced it will be available for public use. This comes on the heels of its successful soft launch.
Developed and created by Wallex Trust, EURST enables users to make faster, cheaper, borderless, and more secured transactions.
Users can easily issue and redeem EURST same-day for zero fees. Each token, 1EURST, represents a monetary value of 1 EUR, which is stored on a distributed ledger managed by an independent board of analysts and consultants.
As a stablecoin backed by the federal reserve, EURST tackles crypto volatility and reduces the risk of stablecoins gaining monopoly.
Being a euro-based digital asset, the stablecoin can be used as a version of fiat and currency within the crypto ecosystem, facilitate global payments and remittance for merchants.
As well as handle OTC trading, custodial, and escrow services for investors.
EURST isn’t just a mere coin but an ecosystem of products and services that use the EURST stablecoin to handle transactions and payments.
Built to digitize the euro and reinvent the unpredictable European economy, EURST has a vast array of functions across the platform, all of which fully utilize the power of cryptocurrencies and blockchain technologies to offer a market-leading stable asset.
EURST is in the process of listing on a number of cryptocurrency exchanges where users will be able to purchase EURST tokens and pay their bills, as well as use EURST for daily transactions.
With the ease of crypto and the stability of fiat, EURST is bridging the gap between fiat currency and the crypto world, giving users a reliable currency to transact anywhere, anytime, hassle-free.
EURstablecoin is a fiat-backed stablecoin created by Wallex Trust and based on the Ethereum network’s ERC20 token standard.
EURST tokens will be fully backed by an equivalent unit of real currency in a real-time audited and transparent reserve managed by Wallex Trust, the primary issuer of EURST tokens.
Token issuance/redemption transactions are recorded on-chain, and all off-chain transactions, as well as reserve balances, will be disclosed to the public at regular intervals, in addition to regular third-party audits.
The presence of a physical, real-time audited, and redeemable USD reserve effectively pegs the market value of EURST tokens to the real-time USD value of 1EUR. For more information, visit the website here.
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