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Wallex Introduces EURST, A Unique And Innovative Stablecoin

Cryptocurrency May 12, 2022 03:00PM ET
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Wallex Introduces EURST, A Unique And Innovative Stablecoin

What is Wallex?

Everyone would agree that this industry is continuously evolving and undergoing key changes as time progresses. As such, there is a clear need for a solution that recognizes these changes, and is able to not only adapt to them but provide a banking solution which can be used for a long time to come. This is where Wallex comes in.

Wallex touts itself as the ‘banking solution of the future’, a solution which not only offers the aforementioned services but also readily complies with KYC, AML and other regulatory guidelines while simultaneously adhering to management standards.

Essentially, Wallex aims to make conversion from digital to fiat both simple and easy, similar to how users would seamlessly convert Euros to USD. In this way, users are provided with a solution that both caters to their needs and keeps them safe at the same time.

The significance of EURST

In the past, Wallex launched EURST, a 100% asset-backed euro stablecoin based on Ethereum’s ERC-20 token standard. The EURST team is dedicated to structural as well as systemic improvements regarding international markets, and widely considers transparency to be a top priority from the start. This is important because there has been a rapid rise in fraudulent entities and malpractices, which has understandably made investors increasingly apprehensive and cautious.

EURST was among the first stablecoins to accept this degree of third-party verified monitoring and visibility. To assure consumer redeemability, EURST leverages the functionality of the Ethereum blockchain, the Euro, and finally a full-reserve model.

Furthermore, rather than depend on reactionary reports which usually become obsolete as soon as they are delivered, real-time attest reports enable EURST to give clients reliable information which shall always be newsworthy, relevant and current.

The importance of stablecoins

The EURST team in particular is committed to fundamental and systemic changes in international markets, and transparency has been a primary objective from the beginning. This is significant since there has been an increase in fake businesses and malpractices, which has rightly made investors more wary and vigilant. EURST seems to be the only stablecoin that users may obtain and redeem on demand, which is great because stablecoins are among the most important aspects of the crypto and blockchain industry. Investors and traders have often used stablecoins to quickly buy and sell their crypto assets, particularly when time is of the essence. As stablecoins will always retain their price and not drastically fluctuate, they are incredibly valuable and EURST is no different.

Authorized users can thus mint tokens via the Ethereum blockchain by bank transfer or directly using their card. Also, there aren’t any pre-minted EURST tokens, which sets it apart from any other stablecoin on the market. EURST tokens are additionally quite simple to buy or sell because they are ERC-20 tokens, and can hence be utilized for cryptocurrency trading, a store of value, and various other related purposes. Traders can trade against EURST in reputable exchanges such as HitBTC, FMFW.io, and the decentralized exchange Uniswap via both BTC and ETH pairs.

What does Wallex have planned for the future?

The Wallex ecosystem provides innovative banking and custody services along with a wide range of features that mix blockchain technology with traditional finance. The platform’s infrastructure will support the future of virtual and physical assets while also providing a new experience which benefits everyone. Wallex’s future goals will thus be focused around improving stability and compliance, as well as on educational efforts.

Ultimately though, the team’s overall vision will remain the same which is to help investors be able to enter the world of digital assets safely and assist them in diversifying their portfolios and develop new wealth management behaviors and business strategies.

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Wallex Introduces EURST, A Unique And Innovative Stablecoin
 

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