With the euro Stablecoin (EURB) starts now one of the banking house of the Heydt responsible E-Euro. Technically the bank joined together thereby with Stellar and Bitbond. EURB is to private people however only limited at the disposal.
In the European Union and the European central bank the discussion continues around a E-Euro still, but meanwhile the private banking house von der Heydt (BVDH) presses forward. There the E-Euro euro is called euro Stablecoin (EURB) and debuted according to press release in this week. The EURB is coupled firmly in the relationship 1:1 to the euro and the BVDH holds the appropriate euro reserves for covering. Technologically the EURB is based on the Blockchain of Stellar (XLM). Third in the federation of the EURB is Bitbond. The enterprise already successfully gained experience in Germany with the Federal Institution for supervision of financial service (BaFin), which concerns the publication of innovative financial products.
What distinguishes the EURB from other Stablecoins?
In the messages to the EURB (here of Bitbond) always the bank is moved by the Heydt with its 1754 beginning tradition into the foreground. Thus is clear: The EURB is to radiate confidence. The BVDH sees the EURB as the first Stablecoin, which is published directly by a Finanzinstitut on the technological basis by Stellar and also otherwise as premiere on the European Kryptomarkt. The EURB will not be available at least first probably for the employment on the usual crypto stock exchanges, because the BVDH takes over identity check (KYC) and the responsibility for the adherence to regulations.
The EURB is rather intended for payment transactions between banks, as a secure means of payment for example in real estate transactions and as digital currency for FinTech projects. The EURB is therefore intended to exploit the advantages of fast and secure transactions more in B2B, but also to involve private end customers in certain scenarios.
In trading with Bitcoin and Co., stablecoins based on US dollars have dominated the market up to now, and the EURB is not expected to change that. Even with a possible E-Euro as CBDC and the ECB behind it, the EURB does not want to compete, because there, use cases of private individuals would be in the foreground from the beginning. But the EURB is certainly being watched with interest by market participants and experts: Because the topic here is not a feasibility study, but a stablecoin that can be used in practice on the basis of a real decentralized block chain including smart contracts. Whether this concept with the BDVH as a trusted sponsor will be accepted by the market is therefore a litmus test.
Conclusion: Pioneering work with the Euro Stablecoin
In the USA, for example, it is the major bank JP Morgan that has launched a Stablecoin for its customers. Goldman Sachs is also considering this. The EURB by Bankhaus von der Heydt is in this respect absolutely logical and in its form actually a novelty. Honour to whom honour is due: That straight a German tradition house brings courage and long breath up for such a project, was not necessarily to be expected.
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