#euro

With the MiCA (Markets in Crypto-Assets) framework coming into effect, the European crypto market is seeing profound changes. A joint study by Kaiko and Bitvavo highlights rising euro trading volumes and a reshaped stablecoin market landscape.

Schuman Financial steps into the stablecoin arena with EURØP, a euro-backed token designed to comply with MiCA regulations and offer unmatched transparency.

Kaiko's latest report highlights significant growth in the European cryptocurrency market, with trading volumes involving the euro tripling over the past three months to reach $16 billion.

Following a comprehensive two-year study, the European Central Bank has initiated the next stage in the development of a potential central bank digital currency (CBDC).

The proposal to create a digital Euro by the European Union is facing academic skepticism, with some specialists forecasting its doom from the get-go. Two economists from the University of Bern, Cyril Monnetm and Dirk Niepelt, have cited preset storage limits for users as a primary concern. They also flagged the possible disinterest of banks in the digital Euro's success if it doesn't lead to significant revenue. Without the backing of commercial entities, they believe, widespread adoption might remain a distant dream.

Tether, the issuer behind USDT, has invested in StablR, a European stablecoin provider, as MiCA regulations loom. The move coincides with Tether’s decision to phase out its euro-pegged stablecoin EURT.

On November 17, the Dutch blockchain firm Quantoz Payments officially launched two new stablecoins, USDQ and EURQ, pegged to the US dollar and euro, respectively.

A Bundesbank study reveals that half of Germany's population is open to using a digital euro as an alternative payment method, although the remaining 49% somewhat oppose the idea.

Circle, the company behind the euro-backed stablecoin EURC, has expanded its availability. In addition to networks like Ethereum, Avalanche, and Stellar, EURC is now accessible on the Solana blockchain.

European information protection authorities have issued recommendations for regulating the central bank digital currency (CBDC), the digital euro.

Mairead McGuinness, the European Commissioner for Financial Services, believes there's no need to rush the launch of a digital euro before the next EU elections in June 2024. She advises the next EU Commission to take a careful and measured approach to the CBDC rollout. Furthermore, McGuinness mentioned that the European Central Bank will finalize its stance on the project this coming October.