Root
Regulations Crypto
Euro Stablecoin (EURB) on Stellar: Attack on Tether and Co?

Euro Stablecoin (EURB) on Stellar: Attack on Tether and Co?

Do repost and rate:

Rated:133

The German Bank von der Heydt (BVDH) has issued its own Euro Stablecoin based on the Stellar network. The stablecoin runs under the abbreviation EURB and, according to the bank, is the first EUR stablecoin in the euro zone to be issued by a bank. Accordingly, the digital euro was created in cooperation with Bitbond and Stellar. In this article we look at the properties and the question of why banks do not use well-known stablecoins such as Tether (USDT).

Euro Stablecoin (EURB) based on Stellar

Officially, there is now a digital euro in the euro zone, which is listed as a euro stablecoin (EURB). The issuer is the German bank von der Heydt. The EURB is fully regulated and 100% covered by euros. However, due to regulatory requirements and strict KYC requirements, the stablecoin cannot be publicly traded. Customers have the following options to purchase the EURB: A transfer of fiat money must be made to a BVDH escrow account. As soon as the money lands from the secure escrow, the corresponding amount of EURB is sent to the customer. However, concepts such as decentralization or privacy were not taken into account in the solution. The technical platform for processing EURB transactions was developed by Bitbond. Accordingly, the client, namely Bank von der Heydt, has complete control over elementary properties of the token. This includes all mechanisms related to “burning and minting”. Cross-border payments with EURB Bank von der Heydt is a German bank that has existed since 1754 and primarily looks after institutional customers. There has been a collaboration with Stellar and Bitbond for more than a year. The aim of the collaboration is to research possible applications based on DLT technology. Philipp Doppelhammer represents the BVDH and said that the Euro Stablecoin should primarily be used for cross-border payments. The bank's motivation arose from the non-existent existence of a euro stablecoin, which was actually issued by a "trustworthy" institution such as a bank.

Banks wouldn't use a stablecoin like Tether or USDC. The counterparty risks and potential problems with the regulators are too high. Both banks and institutional investors prefer trustworthy stablecoins.

Let us note that Bank von der Heydt was the first European bank to issue a euro stablecoin. This is used for cross-border payments and should primarily be accessible to banks and institutions. The EURB is 100% covered by euros and is not publicly tradable.

Image Source: https://images.app.goo.gl/8yLzYathBtKo8ucDA

MY SWISSBORG CHRISTMAS PROMOTION!

How it works

Swissborg gives everyone who register to the wealth app and deposit 50 € (depositing FIAT is recommended) a reward ticket with a random value ranging from 1 to 100 € in BTC.

But only, if you use my links and follow the described steps below. If you do so:

I give you my reward ticket i am getting from your subscription for free!

All you need to do is this:

1. Download the Swissborg Wealth App (mandatory)
2. Deposit 50 €, deposits on Swissborg are free so you can withdraw them later. (Withdraw costs about 1 €, with the earning from the reward you'll gonna make either a plus or a break even) (mandatory)

Note: If you only download the Wealth app you only get 10% of my ticket

3. Download the Swissborg Community App (mandatory)
4. Apply the Code: OA62FUI (mandatory)
5. Contact me via Discord (Overmind#0055), Telegram (@SwissborgSwarm) or mail ([email protected]) (preferred) for verificaiton and to get your BTCs! (mandatory)

Note: If you only download the Community App and apply the code i say thank you!

Have fun earning free BTC!

Do not miss the chance to get up to 200€ in BTC for free!

This promotion begins today! and ends on December 2020-12-31 00:00 CET

I Paid every participant: Check in the comment section of these posts for a proof of my payment to them:

Proof 1

Proof 2

Proof 3

Proof 4

Proof 5

Thank you for participating!

Note: I pay in any currency you like :). And the withdrawal fee from Swissborg Wealth App to your wallet are free of fees. I pay them. Happy free Crypto earning!