One of the oldest European banks comes with its own EURO stablecoin (EURB).
Bankhaus von der Heydt (BVDH) together with Bitbond, a leading German provider of tokenization and custody of digital assets, are now launching EURO stablecoin in the Stellar network.
The Stellar Development Foundation published a press release on the announcement of EURB on its official website just a moment ago, and we seem to be witnessing a truly unique EURO stablecoin.
This is a particularly important moment especially for the initiator of this project, which was one of the oldest European banks. BVDH has been in operation since 1754, and after examining all the ways to make their securitization business more efficient, tokenization technology was a clear favorite.
The Stellar Development Foundation facilitated the development and also the technical integration of EURB, the tokenization process was taken care of by Bitbond.
This is a testament to the ways that traditional banking and blockchain can work together, bringing together one of the oldest banks in Europe with a FinTech start up to deliver exciting innovation in the digital currency space,
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation
Adding a high-quality, bank-issued euro asset to Stellar is meaningful for our users and builders on our network, powering a new wave of financial innovation, leveraged immediately by Stellar-based apps including DSTOQ, Vibrant, and Lobstr.
Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation
EURB is intended for all BVDH customers as well as for the third-party financial application developers. The Stellar ecosystem has also enthusiastically welcomed it into its network and is now a new exchange tool.
Read also: Stablecoin supply increased by 395% in 2020
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