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Tether launch Euro coin stablecoin EURt token

Published: December 7, 2023

Written by:barnaby

Tether’s EURt is the third largest Euro stablecoin by market capitalization.

Euro Tether, also known as, EURt, is a cryptocurrency stablecoin pegged to one Euro.

Similar to USDT, EURt will aim to always be worth one Euro providing a decentralized copy of European currency for crypto traders.

Tether’s EURt will be a 1:1 representation of one Euro and issued by Tether and operated by Bitfinex. As an ERC20 token, EURt will find its home on the Ethereum blockchain.

Other European stablecoins include Celo Euro, CEUR, with a market cap of 15 million.

The largest Euro stablecoin is EURS with a $136 million market cap. Tether’s EURt token is the third largest Euro stablecoin with a market cap of $40 million.

With United States dollar-pegged stablecoins being the most sought after and used due to history and crypto prices usually being denominated in dollars, it may take some time for Euro stablecoins to gain any widespread adoption.

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