SatoshiPay to Become First User of German Bank's Euro Stablecoin

Cryptocurrency payments provider SatoshiPay has inked a deal with German bank Bankhaus von der Heydt to become the first user of its recently revealed euro-backed stablecoin (EURB).

Announced Tuesday by SatoshiPay investor Blue Star Capital, the payments firm plans to integrate the regulatory complaint EURB into its cross border money transfer service called DTransfer.
Bankhaus von der Heydt, an institution established in 1754, partnered with Bitbond to launch its euro-backed stablecoin on Stellar last week.
Bitbond played a role in the development and integration of EURB, while Bankhaus von der Heydt provides its banking infrastructure and regulatory framework.
U.K. based Blue Star, which has a 27.7% stake in the company, said the addition of EURB would be good for SatoshiPay users.
Bankhaus von der Heydt brings "a stable on and off-ramp for EURB transactions with instant EUR-based bank transfers within the Single Euro Payments Area," according to the announcement.

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