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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC