{"id":37888,"date":"2023-01-10T16:27:26","date_gmt":"2023-01-10T16:27:26","guid":{"rendered":"https:\/\/lydian.io\/?p=37888"},"modified":"2023-01-10T16:27:29","modified_gmt":"2023-01-10T16:27:29","slug":"cosmos-eur-stablecoin-project-will-be-terminated-after-2-years","status":"publish","type":"post","link":"https:\/\/lydian.io\/cosmos-eur-stablecoin-project-will-be-terminated-after-2-years\/","title":{"rendered":"Cosmos EUR stablecoin project will be terminated after 2 years","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
<\/p>\n
based on a post Office<\/a> On Jan. 9, e-Cash \u2014 a stablecoin undertaking within the Cosmos ecosystem \u2014 introduced that it might cease issuing its euro stablecoin EURR efficient March 6, 2023. Justifying the choice, e-Cash wrote: <\/p>\n \"The shortage of real-world functions for blockchain has resulted in low demand for non-USD-denominated stablecoins. The present kind favors business banks as future issuers of euro stablecoins, hurting innovation within the European Union.\"<\/p>\n Till the deadline, customers can redeem their EEUR by exchanging their stablecoins for digital belongings akin to OSMO, ATOM or USD Coin (USDC) on Cosmos' decentralized change Osmosis (OSMO). For quantities over EEUR 100,000, e-Cash recommends redeeming in euros instantly at e-Cash A\/S. \u201cThis requires KYC\/AML and it's best to enable round 5 enterprise days for processing. Please contact gross sales@e-money.com to redeem this feature,\" the corporate wrote.<\/p>\n Essential Announcement: EEUR Stablecoin Unwind<\/p>\n e-Cash A\/S has determined to cease issuing its EUR-backed stablecoin <\/p>\n \u27a1\ufe0fAll stablecoins stay absolutely secured and could be redeemed. Learn our Medium publish and select one of many redemption choices listed \u2935\ufe0fhttps:\/\/t.co\/1yneUFrD7U<\/a><\/p>\n