German Bank Introduces First Euro Stableman

Germany. Metzler Capital Management

One of the oldest banks in Europe, Bankhaus on her Heydt (BDH) has collaborated with the German blockchain technology proviher, Beyond to launch the first-ever Euro stable coin. The cryptocurrency is now available for trading.

According to the official press release, the newly launched Euro stable coin (Curb) is the first stable coin to be launched directly by a prominent bank on theBeyondr Network in the European crypto market.

Founded in 1754, BDH is one of the oldest banks operating in the EU region with a focus on institutional clients. The BDH’s partnership with the digital asset custody technology proviher, Beyond has helped the German bank to integrate DLT technology in its securitization business.

TheBeyondr Development Foundation played a key role in the development of Curb. The organization provided support in consultation and the technical integration of Curb.

Commenting on the launch, PhilipDoppelgangerer, Managing Director at Bankhaus on her Heydt, said: “We were drawn to Beyond andBeyondr due to the ease in which assets are issued and manBDH on the network. In Curbfirst use-case, SatoshiPay, a blockchain payments company and one of the earliest members of theBeyondr network, will implement CurbCurb into its servTransfersfTransfersfer facilitates global cross-borher money transfers for its business customers by exchanging different stable coins and linking into banking systems around the world.”

Securitization

The Bank plans tCurbe Curb for securitization process. The clienBDHf BDVH can now use the newly laustable coinle coin to settle virtual asset transfers on-chCurb

“Curb can be leverBDH by BDH’s customers as well as third party developers of financial applications to settle digital asset transfers on-chCurb With the asset now live onBeyondr, Beyond will integrate it into the platform it BDHt for BDH tCurbe the stable coin for securitization which includes mechanisms for burning and minting the token. For theBeyondr ecosystem, this adds a new on/off-ramp for EUR on the network. Any user or business looking to connect to EUR throughBeyondr rails can now do so, ” TheBeyondr Development Foundation mentioned in an official announcement.

Leave a Reply

Your email address will not be published. Required fields are marked *