Eurite

EURI Price

About Eurite (EURI)

Eurite (EURI) is a Euro-pegged stablecoin issued by Banking Circle S.A., designed to provide a regulated and secure digital representation of the Euro for the blockchain ecosystem.

• The token is 100% backed by Euro cash reserves held in segregated, bankruptcy-remote accounts.
• EURI is one of the first stablecoins compliant with the European Union's Markets in Crypto-Assets (MiCA) regulation.
• It is available 24/7 as an ERC-20 token on Ethereum and a BEP-20 token on the BNB Smart Chain.

What Is Eurite

Eurite (EURI) is a regulated electronic money token (stablecoin) that bridges the gap between traditional fiat currencies and digital asset markets. Its primary value proposition is to offer a stable, Euro-denominated medium of exchange that leverages blockchain technology for near-instantaneous settlement. Value moves through the system as institutional users deposit Euros with the issuer to mint new tokens or return tokens to be burned in exchange for fiat.

The token is "put to work" primarily as a settlement asset within decentralized finance (DeFi) protocols and centralized exchanges. By providing a MiCA-compliant Euro stablecoin, Eurite enables users to participate in the digital economy while adhering to stringent European regulatory standards. As the ecosystem grows, EURI scales by expanding its availability across multiple trading platforms and integrating into various on-chain financial services.

What Makes Eurite Unique

• MiCA Compliance: EURI is among the first Euro stablecoins to operate under the full regulatory framework of the Markets in Crypto-Assets (MiCA) regulation in the European Economic Area.
• Bankruptcy Remoteness: Customer funds used to back EURI are segregated from the issuer's own assets, ensuring they are protected even in the event of an insolvency of Banking Circle S.A.
• Regulated Issuer: The token is issued by Banking Circle S.A., a licensed credit institution based in Luxembourg and supervised by the Commission de Surveillance du Secteur Financier (CSSF).
• Multi-Chain Accessibility: By existing on both Ethereum and the BNB Smart Chain, EURI provides flexible liquidity for users across two of the largest blockchain ecosystems.

What Can You Use Eurite for?

Eurite is pegged to the Euro and serves several key functions within the digital asset landscape:

1. Value retention: The asset allows users to hold a digital, on-chain representation of the Euro, which may reduce exposure to the inherent volatility of the broader cryptocurrency market.
2. Yield generation: The source does not specify native yield options, but EURI can be utilized within decentralized lending and liquidity provisioning protocols where Euro-denominated pairs are supported.
3. Cross-border settlement / value transfer: EURI facilitates international remittances and global trade by removing the friction and delays typically associated with traditional cross-border banking transactions.
4. Collateralization: EURI can be used as backing for borrowing and lending protocols or as margin for derivatives trading, subject to the support of individual platforms.

How Does Eurite Work?

Eurite operates on a mint-and-burn mechanism managed by Banking Circle S.A. Institutional users who pass KYC and onboarding requirements can purchase EURI at a 1:1 ratio by depositing Euros into the issuer's bank account. Once funds are received, the issuer mints the equivalent amount of EURI and sends it to the user's digital wallet. Conversely, when tokens are returned to the issuer, they are burned, and the corresponding fiat amount is wired back to the user.

The technical infrastructure relies on public blockchains. On Ethereum, it utilizes Proof of Stake, a method where validators secure the network by locking up tokens. On the BNB Smart Chain, it uses Proof of Stake Authority, which combines elements of staking and designated authorities to process transactions. These protocols ensure the transparency and immutability of all EURI transfers.

Team Info and Investors

Eurite is issued by Banking Circle S.A., a Luxembourg-based bank that specializes in providing payment solutions for financial institutions. The project is a direct extension of Banking Circle’s existing payment systems, aiming to integrate blockchain-based settlement into their treasury management services. While specific venture capital investors are not detailed in the primary project literature, the project's credibility is anchored by its status as a licensed credit institution under CSSF supervision. Governance is centralized under the issuer to ensure regulatory compliance and the stability of the Euro peg.

Where can you buy Eurite?

EURI tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Eurite is Binance, where the most active trading pair EURI/USDT has a trading volume of $405,085.89 in the last 24 hours. Other popular options include WhiteBIT and BingX.

What is the daily trading volume of Eurite (EURI)?

The trading volume of Eurite (EURI) is $3,199,171.98 in the last 24 hours, representing a -16.10% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Eurite (EURI)?

Eurite (EURI) reached an all-time high of $1.21 and an all-time low of $1.01. It’s now trading -5.50% below that peak and 13.10% above its lowest price.

What is the market cap of Eurite (EURI)?

Market capitalization of Eurite (EURI) is $38,559,885 and is ranked #521 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of EURI tokens (34 Million tokens are tradable on the market today).

What is the fully diluted valuation of Eurite (EURI)?

The fully diluted valuation (FDV) of Eurite (EURI) is $38,559,885. This is a statistical representation of the maximum market cap, assuming total number of 34 Million ETH tokens are in circulation today.

How does the price performance of Eurite compare against its peers?

With a price decline of -0.10% in the last 7 days, Eurite (EURI) is outperforming the global cryptocurrency market which is down -3.20%, while outperforming when compared to similar Stablecoins cryptocurrencies which are down -0.50%.

How to add Eurite (EURI) to MetaMask?

Adding Eurite (EURI) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import EURI as a token. You can copy EURI’s contract address (0x9d1a7a3191102e9f900faa10540837ba84dcbae7) and import it manually, or if you've installed MetaMask's chrome extension, add EURI to MetaMask with one click on CoinGecko.

Add EURI to MetaMask.