European countries are still doubtful of cryptocurrencies and have not yet fully realized their potential. However, last year, the European Commission adopted new regulations expected to come to force in 2024. These regulations are likely to support and accept cryptocurrencies as their potential is no longer deniable.
One of the blockchain platforms supporting and leading this adoption is EURST. EURST provides users with a user-friendly and reliable platform to quickly shift from fiat and cryptocurrencies to help the European economy develop faster.
What is EURST?
EURST is a live audited asset-backed euro stablecoin that offers transparency and stability in the highly volatile crypto market. The EURST ecosystem uses the token to simplify the process of crypto adoption. One of the biggest reasons for slow adoption in European countries is the lack of understanding. However, EURST solves this problem by creating a reliable and easily understandable stablecoin with several use cases and advantages. EURST aims to fill the need of the market of a digitalized euro, with all the benefits of a crypto currency, while combining the compliance and security standards of the traditional finance industry.
Stablecoins are generally less volatile than primary cryptocurrencies, such as Bitcoin, as they use specialized algorithms to manage their price during the fluctuations in the market. Similarly, EURST reduces the risk of any single stablecoin achieving dominance and provides interoperability and frictionless exchange across different blockchain networks. Some of the use cases of EURST include;
- Safe Haven Asset
- Trading
- Payments
- Remittance
- Payroll
- Settlement
- Escrow
- Lending
- Alternative Banking
- Powering Decentralized Applications.
These use cases for EURST cover the potential of the ecosystem as a whole. However, some of the dominant features of EURST are:
- EURST protects wealth against loss of value under the Euro economy by using Stablecoin EURST to save money without the prerequisite of a European bank account.
- EURST offers interoperability between different payment systems and payment gateway systems.
- Users can use EURST to deposit funds on crypto exchanges for trading and save transaction fees.
- Users can use EURST for overseas transactions and remittances to avoid hefty exchange fees.
EURST is both robust as well as the first Euro-compliant stablecoin backed by dollars. Users can redeem EURST same-day without paying any fees, making it a unique stablecoin. For the ease-of-use, it is available and featured on the majority of cryptocurrency exchanges. The token ensures that it remains;
- Transparent
EURST offers complete transparency by being independently attested by the best audit technology and live updated attestations of the deposits provided by a reputable US accounting firm.
- Borderless
EURST offers fast blockchain transactions, easy access, and broad interoperability with its availability in over 100 countries.
- Fully Collateralized
EURST is 100% collateralized and stores all the assets in secure escrow accounts.
EURST will help users by limiting the crypto market volatility and ensuring easy and quick transactions as developed on the Ethereum main-net. Apart from EURST, the ecosystem also offers fiat and cryptocurrency processing, global payments and remittance, and OTC trading & escrow. EURST uses smart contracts to digitize deposited funds and store them in segregated accounts. This digitization helps users to use their funds without high gas fees and delayed transactions.
It will also assist them in making wire payments, card payments, and offers crypto support for depositing and withdrawing assets. Like Paypal or any other popular payment gateway, EURST offers seamless integration within any payment system. It is compliant with all payment systems and gateways to provide an exemplary standard of interoperability.
As decentralized stablecoins are more secure, transparent, and decentralized, they are immune to crypto volatility and act as a much safer investment opportunity. Also, as every transaction is recorded on the blockchain and made available to the public, users do not have to worry about the ecosystem using their resources for personal gain.
EURST is expediting the development of European countries while simultaneously promoting the use of cryptocurrencies. For more information about the project, visit https://eurst.io/.
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
