Coinbase Adds Support for Euro-Pegged Stablecoin After Binance CEO Predicts New Trend for Crypto Sector

Coinbase is adding support for Ethereum (ETH)-based stablecoins to its crypto trading platform, which aims to remain pegged to the Euro.

America’s Top Cryptocurrency Exchange announced Eurocoin (EUROC) as a modern offering for customers, trading becomes available after liquidity conditions are met.

“Coinbase adds support for Euro Coin (EUROC) on the Ethereum network (ERC-20 token). Please do not send this asset over other networks as funds may be lost. Inbound transfers are available on Coinbase and Coinbase Exchange in regions where trading is supported.

If liquidity conditions are met, trading will commence after 9:00 am on February 22, 2023. Trading on the EUROC-USD and EUROC-EUR trading pairs will begin in phases once a sufficient supply of this asset has been established.

Eurocoin’s listing comes amid regulatory pressure on Binance USD (BUSD), according to Chao Changpeng, CEO of crypto exchange giant Binance. It was done after he said he might look.

At the Twitter Spaces AMA on Feb. 14, Zhao said the popularity of US-pegged stablecoins could decline as regulators crack down on these assets.

Given the current pressure and current stance of regulators on USD-based stablecoins, I think the industry will probably move to non-USD-based stablecoins and possibly back to algorithmic (algorithmic) stablecoins.

Fundamentally, I think this will force industry players to look for other options, such as more algorithmic stablecoins, other than the US dollar As a result of this, perhaps Euro-based or Japanese Yen-based , I think there will be more Singapore dollar-based ones. stablecoin. In fact, it prompted me to look for more options in various places.

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