Bitstamp has announced that they will be releasing Euro (EURt) on their app and website for trading purposes. Stablecoin has grown by 300 percent this year, reaching a market capitalization of almost $110 billion. For the first time, the volume of total on-chain trade has surpassed $700 billion, showing that stablecoin is gaining traction.
The company said that they want to assist pioneer the acceptance of EURt, the first EUR-pegged stablecoin, since they are excited with positive things opened up by this exponential increase. The company starts by presenting EURt/EUR and EURt/USD as the crypto exchange for those who prioritize stability and dependability above all else.
Stablecoin exists because it acts as an alternative for anyone who wishes to move cash across companies and trade on the crypto market without experiencing price fluctuations. Stablecoin offers stability a user needs, so no need to face losses or gains from currency volatility on transactions.
The US dollar is the most widely accepted reserve currency, and most stablecoin are tied up with it on 1:1. After reading Bitstamp review, many users find that they can use the euro as their primary currency. The platform understands how essential it is to deal in its currency. Therefore this news should excite all of our EU clients.
Since there is the necessity of an USDt middleman when utilizing EURt, users have a high chance of eliminating FX volatility. Users can also protect themselves against any possible loss of purchasing power in case the euro weakens. If the user belongs to the eurozone, everything becomes easier because you’re using your own money.
It has the potential to gain widespread acceptance, assisting in the mainstreaming of digital tokens. That’s why we’re excited about all of the potential future opportunities and products that might result from this launch. There is a significant market gap for products that take a euro-pegged stablecoin, bringing mainstream adoption even closer.
Following the Listing Schedule
- Transfer-mode only [July 19]: Deposits and withdrawals are now available, except trading.
- Post-mode only [July 22 at 8:00 AM UTC]: Limit orders can be placed and canceled, but they will not be matched. As a result, no orders will be fulfilled during this time.
- Only limit mode [12:00 AM UTC on July 22]: Matching of orders will begin, and trades will be completed regularly. However, only a limited number of orders will be accepted.
- Full trading: Once the order books have enough liquidity, all order types and card purchases will be available for the new trading pairs.
The company is also offering a 90% discount on every trading fee till the end of 2021. The same goes for FX stablecoin and FX pairs.