Q: What is EUR₮ used for?

EUR₮ served multiple purposes in the digital asset space: * **Trading and Liquidity:** Offered a stable medium for trading pairs on various cryptocurrency exchanges, enabling users to transact in a euro-pegged digital asset. * **Cross-Border Transactions:** Facilitated efficient international payments and remittances by leveraging blockchain technology. * **Decentralised Finance (DeFi):** Integrated into DeFi platforms, allowing users to participate in lending, borrowing, and yield farming activities using a euro-backed stablecoin.

Question 1

What is Euro Tether (EUR₮)?

Accepted Answer

Euro Tether (EUR₮) is a stablecoin issued by Tether Limited, pegged 1:1 to the euro. Introduced in 2016, EUR₮ was designed to provide a digital asset reflecting the value of the euro, facilitating seamless transactions and trading within the cryptocurrency ecosystem. Each EUR₮ token was backed by reserves to maintain its parity with the euro.

Question 2

What is EUR₮ used for?

Accepted Answer

EUR₮ served multiple purposes in the digital asset space:​

* **Trading and Liquidity:** Offered a stable medium for trading pairs on various cryptocurrency exchanges, enabling users to transact in a euro-pegged digital asset.​

* **Cross-Border Transactions:** Facilitated efficient international payments and remittances by leveraging blockchain technology.​

* **Decentralised Finance (DeFi):** Integrated into DeFi platforms, allowing users to participate in lending, borrowing, and yield farming activities using a euro-backed stablecoin.​

Question 3

Who created EUR₮?

Accepted Answer

EUR₮ was created by Tether Limited, the company responsible for issuing various stablecoins, including USD₮ (pegged to the US dollar) and CNH₮ (pegged to the offshore Chinese yuan). Tether Limited operates under Tether Holdings Limited.​

Question 4

Discontinuation of EUR₮

Accepted Answer

In November 2024, Tether announced the discontinuation of EUR₮, citing evolving regulatory frameworks in Europe, particularly the European Union's Markets in Crypto-Assets (MiCA) regulation. The decision was influenced by the complex regulatory environment and the relatively low market capitalisation of EUR₮ compared to other Tether-issued stablecoins. Holders of EUR₮ were advised to redeem their tokens by November 27, 2025.