Binance Pay Launches EURI Stablecoin Payments
In Brief
Banking Circle partnered with Binance Pay to add EURI payments to its platform, now enabling users to conduct seamless transactions.
Payments bank Banking Circle unveiled an agreement with cryptocurrency contactless payment technology provider Binance Pay to support Eurite (EURI) payments on the Binance Pay platform. This integration will enable users to conduct transactions seamlessly with this stablecoin, increasing the utility of digital currencies in daily financial activities.
“Our cooperation with Binance Pay allows us to leverage our strengths in financial technology to enhance the efficiency and security of digital payments,” said Daniel Lee, Head of Web3 at Banking Circle, in a written statement. “The introduction of EURI into Binance Pay’s ecosystem is a key step towards broader adoption of digital currencies,” he added.
Eurite is the Euro-backed stablecoin regulated by the Markets in Crypto-Assets Regulation (MiCA). Introduced by Banking Circle, it complements the company’s payment solutions. The asset adheres to strict European Union standards, boosting trust, credibility, and confidence among holders. Compliance with the regulatory framework guarantees the safeguarding of its users, financial stability, mitigating legal threats, and enhancing safety and transparency.
“At Binance Pay, we are committed to enhancing our payment system to simplify and improve the daily transaction experience for our users,” said Jonathan Lim, Global Head of Binance Pay, in a written statement. “The integration of EURI is a significant step toward transforming digital currencies into a mainstream payment method, thereby fostering greater financial inclusion and driving innovation across the global payments landscape,” he added.
This collaboration highlights the dedication of both Binance Pay and Banking Circle to advancing the adoption of digital currencies, facilitating their wider acceptance and utilization in everyday financial transactions.
Binance Lists EURI And Launches Zero-Fee Campaign
This project represents a contactless and borderless cryptocurrency payment technology developed by cryptocurrency exchange Binance. It allows users to make payments, send and receive transactions in over 300 cryptocurrencies globally.
Earlier this week, Binance became the initial platform to add the stablecoin. It introduced the EUR-EURI and EURI-USDT spot trading pairs. Along with the listing, the exchange initiated a zero-fee campaign for Eurite, enabling traders to engage in spot and margin trading without incurring fees.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
