Euro | Crypto

The following is a guest post and opinion of Eneko Knörr, CEO and Co-Founder of Stabolut. Months ago, in an op-ed for CryptoSlate, I warned that the EU’s flagship crypto regulation, MiCA, would achieve the opposite of its goals. I argued it would strangle euro innovation while cementing the US dollar’s dominance for a new […] The post Euro stablecoins are 0.15% of the market. Here’s how Europe catches up appeared first on CryptoSlate.

The dEURO is overcollateralized by other digital assets such as Bitcoin, Ether and Monero. Cake Wallet added the decentralized stablecoin dEURO to its offerings on Tuesday, expanding its stable of euro-denominated digital assets for users. The decentralized stablecoin is overcollateralized by other digital assets, including Bitcoin (BTC), Ether (ETH) and Monero (XMR), meaning that to mint the dEURO stablecoin, users must first deposit other cryptocurrencies as collateral. Overcollateralizing, or depositing cryptocurrency worth more than the value of the asset being borrowed, acts as a shield against de-pegging events, the dEURO team told Cointelegraph. The dEURO offering also features automatic liquidations, which occur when loan-to-value ratios drop below a certain threshold. Read more