Euro Usage Tanks, Leading Decline Among Currencies on SWIFT Over the Last 10 Years

December 31, 2024 Bitcoin.com

bitcoin.com

According to data released by SWIFT, the use of the euro as a settlement currency for international payments has fallen significantly. Its utilization share has decreased by 6.83% compared to 2014, with only 22.29% of global payments employing it. Euro Tanks, Dollar Thrives in Swift Share Charts The future seems bleak for the euro, as […]

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MIND of Pepe Presale Hits $2M – Next Big AI Agent Crypto?

BBVA to Launch Visa-Backed Euro-Pegged Stablecoin Next Year

October 4, 2024 Bitcoin.com

Altcoins

BBVA, one of Spain’s largest financial institutions, has announced plans to launch its stablecoin product by 2025. The organization is currently in the sandbox stages and will be developed in partnership with credit giant Visa as part of one of the first projects using its services to launch stablecoins. BBVA Plans to Launch Stablecoin in […]

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UBS Warns of Further US Dollar Decline, Advises Investors to Reduce USD holdings

October 1, 2024 Bitcoin.com

Assets

Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term decline due to shrinking interest rate advantages and a growing fiscal deficit. With the dollar down 5% since June, UBS recommends strategies like currency hedging and diversifying into other currencies and assets like […]

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Binance Adds Support for New Regulated Euro-Pegged Stablecoin Project

August 28, 2024 The Daily Hodl

Binance

Binance, the world’s leading cryptocurrency exchange, has expanded its offerings to include Eurite (EURI), a newly minted euro-backed stablecoin. The exchange has confirmed that EURI trading pairs will be available in both euro and US dollars at 10:00 UTC on August 28th. Binance has announced that Eurite (EURI), a newly regulated euro-backed stablecoin, will be […]

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Circle’s Euro-Pegged Token EURC Surpasses €50 Million Market Cap

August 20, 2024 Bitcoin.com

bitcoin.com

EURC, a Euro-pegged stablecoin by Circle, the issuer of USDC, has reached a market cap of over €50 Million ($55.37 million). According to Patrick Hansen, Circle’s Senior Director, EU Strategy & Policy, the stablecoin has experienced significant growth, registering a 36% increase in its issuance due to its recent launch on base, a Coinbase incubated […]

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$2.3 Billion in Dollar, Euro Bills Shipped to Russia Despite Ban

August 14, 2024 Bitcoin.com

bitcoin.com

Despite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these restrictions. Despite official efforts to reduce reliance on foreign currency, Russian citizens still prefer dollars and euros. Russia Successfully Skirts Western Sanctions Dollar and euro […]

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Digital euro to be ‘most private electronic payment option’

July 30, 2024 Coin Telegraph

Banks

Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool.

The digital euro will be one of the most private forms of electronic payment, according do a data protection official from the European Union.

On Oct. 2, 2020, the European Central Bank (ECB) released a report laying the groundwork for its central bank digital currency (CBDC), the digital euro.

The digital euro has been in its investigation phase since October 2021, during which ECB officials and bankers hypothesized about its possible design and purpose.

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Euro’s Reserve Currency Status Threatened as Its Share of Foreign Reserves Holdings Drops

June 13, 2024 Bitcoin.com

bitcoin.com

A report from the European Central Bank indicated that the euro’s share of foreign exchange reserves declined by one percentage point to 20% in 2023. According to the report, the continued diversification of global reserve portfolios into nontraditional currencies threatens to further erode the euro’s share of foreign exchange reserves. Euro’s Decline Coincides with US […]

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Euro-Pegged Stablecoin Volumes Grow As New Regulation Acts As Potential Boon for Sector: Kaiko

June 12, 2024 The Daily Hodl

Altcoins

Euro-pegged stablecoin use is increasing amid new European crypto regulations that phase in over time, according to digital asset analytics firm Kaiko. In a new report, Kaiko says that the European crypto market is facing big changes as the regulations impacting stablecoins in the 2023 Markets in Crypto Assets (MiCA) law go into effect later this […]

The post Euro-Pegged Stablecoin Volumes Grow As New Regulation Acts As Potential Boon for Sector: Kaiko appeared first on The Daily Hodl.

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EU elections 2024: Pro-crypto parties pick up seats amid Green losses

June 11, 2024 Coin Telegraph

Coin Telegraph

The European elections have caused a stir, but several pro-crypto or crypto-supportive parties have gained seats.

From June 6 to 9, more than 185 million people from the European Union’s 27 member states voted for candidates to serve a five-year term in a new European Parliament, the legislative branch of the political bloc.

This pivotal event will shape the political direction of the EU for five years, and crypto and blockchain are no exception.

The election results are mixed: The Christian Democrats won 10 seats, while the Social Democrats hung on, losing only four seats, and the pro-business (and pro-crypto) Renew Europe Group lost 23 seats.

Euro

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