Binance has just announced the listing of a new stablecoin, Anchored Coins EUR (AEUR), Peg 1:1 to the Euro. In addition, the floor also offers free trading with AEUR/ USDT, BTC/AEUR and EUR/AEUR pairs.
Binance introduces new stablecoin Anchored Coins EUR (AEUR) Peg to the Euro
On December 4, 2023, Binance announced the listing of a completely new stablecoin, Anchored Coins EUR (AEUR) , Peg to the Euro.
#Binance will list Anchored Coins EUR $AEUR .
— Binance (@binance)December 4, 2023
👉 https://t.co/jP8p5D5ukd pic.twitter.com/bLy5RmU3Yu
According to the introduction from the official website , AEUR is a stablecoin equivalent to the Euro 1:1 and is issued by Anchored Coins. AEUR has a current supply of more than 5 million Token, corresponding to the amount of EUR being reserved in the bank.
Source: project website
In addition, AUER is issued on two chains, Ethereum and BNB Chain , with the amount per chain being 4,504,500 AEUR on Ethereum (90% of supply) and 505,200 Token on BNB Chain (10% of current supply).
To celebrate the arrival of the new stablecoin, Binance is offering free trading on AEUR/ USDT, BTC/AEUR and EUR/AEUR pairs, lasting until further notice.
AEUR appeared in the context that this exchange was facing many legal troubles in the European market. The European Parliament's official adoption of the MiCA crypto bill is a good sign for the cryptocurrency sector, but it is accompanied by many strict legal regulations forcing crypto companies to operate within the framework. .
Binance is no exception. Previously, there were rumors that Binance had to delist its stablecoin in Europe because of the MiCA law , but CZ later denied it.
However, the reality is that the exchange lost its banking partner Paysafe and had to find a new partner to process payments for European fiat currencies. Additionally, Binance Card will stop supporting European users at the end of 2023 .
Therefore, the introduction of AEUR is said to be a new effort of the exchange to maintain serving the old continent market.
This is also probably one of the first steps to realize the goal of turning Binance into "a normal financial company" of new CEO Richard Teng - Changpeng Zhao's successor after Binance accepted to pay a fine of 4,000 USD. 3 billion USD to end the lawsuit with the US Department of Justice.
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