The stablecoins has now joined Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple’s XRP, and Toncoin (TON) in Dubai’s approved list of tradable cryptocurrencies.
A day after enabling the conversion, Coinbase plans to introduce a new EURC-USDC order book.
DWS said that the stablecoin coin will operate under the regulatory purview of Germany’s top financial regulator BaFin.
The upcoming MiCA law recognizes Electronic Money Tokens (EMTs) and Asset-reference Tokens (ARTs) as viable payment methods. However, the instruments must meet certain criteria before they can be used for payments.
As with USDC, the EURC on the Stellar network is redeemable at a ratio of 1:1 to the backing fiat currency at any time of the day and week.