Stablecoins are on the rise and for good reason. They provide the benefits of cryptocurrencies while protecting against the price volatility that often comes with the asset class. This offers a safer, quicker, and cheaper alternative for sending and receiving money–particularly for those without access to traditional financial services.
While many stablecoins used today are USD-denominated, we live in a global world. In the case of our customers at Blockchain.com, many don’t think, pay, or save in USD. It’s important that the benefits and opportunities stablecoins have to offer are accessible to people all over the world.
Bringing the benefits of stablecoins to Europe
Europeans are already used to tectonic shifts in monetary policy, having seen the implementation of the Euro — a regional fiat currency adopted by countries who left their national currencies for a new paradigm.
We believe there are great opportunities for Europeans — and anyone around the world — in a Euro-tracked stablecoin, so we’re pleased to join forces with the Celo team to launch Celo Euro (cEUR) in the Blockchain.com Wallet and Exchange.
About Celo and cEUR
The teams that work on Celo are all about removing barriers for large-scale adoption of cryptocurrencies as a means of payment. Using a novel address-based encryption algorithm, the Celo Blockchain and its native tokens make sending money as easy as sending a text. Enter cEUR.
cEUR is a stable digital asset that tracks the Euro. It allows users to transfer value faster, cheaper, and more easily on their smartphone. The asset’s crypto-backed reserve and algorithmic stability mechanism sets it apart from other Euro-pegged stablecoins by eliminating centralized credit and lowering counterparty risk.
Buying cEUR in the Blockchain.com Wallet and Exchange
Starting today, you can buy, sell, trade, send, and receive cEUR in the Blockchain.com Wallet and Exchange. You can also earn up to 4% annual rewards by holding cEUR in your Blockchain.com Rewards Account.
To celebrate the launch of cEUR, we’re removing fees when buying cEUR in the Blockchain.com Wallet. It couldn’t be easier to get started with cEUR!
About Celo Euro (cEUR)
Celo Euro (cEUR) is a stablecoin that tracks the value of the Euro. The stablecoin, native to the Celo blockchain, is carbon negative and ERC-20 compatible. It is supported by an algorithmic stability mechanism with a crypto-backed reserve. The cEUR reserve is backed in part by Celo’s native asset CELO, along with other digital assets, including BTC, ETH, and other stablecoins. For more information about the Celo Reserve, please visit them here.
Digital currencies are not bank deposits, are not legal tender, and are not backed by the government. Blockchain Access UK Ltd’s products and services are not within the jurisdiction of the UK Financial Ombudsman Scheme, nor are they subject to the UK Financial Services Compensation Scheme, the US Federal Deposit Insurance Corporation or Securities Investor Protection Corporation, or any other non-UK or non-US governmental or government-backed protections.
Legislative and regulatory changes or actions in any jurisdiction in which Blockchain.com’s customers are located may adversely affect the use, transfer, exchange, and value of digital currencies.