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The EURC from Circle and EURR from Revolut fight has begun
*From Bloomberg News reporter Charlie Wells:* Revolut joined the rush among global banks and payment firms to roll out stablecoins, a bet that digital money will gain a greater role in everything from cross-border payments to business transactions. The stablecoin, called EURR, is pegged to the euro and will be available initially to eligible customers in Denmark, Poland and Portugal, Revolut said in a statement on Wednesday. It called EURR “the first step” in its broader stablecoin strategy, which will include tokens linked to other currencies. Revolut expects to roll out the token to clients in other markets in the European Economic Area later this year. EURR will be integrated into the Revolut app, allowing customers to move between euros and crypto on-chain, it said.
Here is the most simple answer. they pegged to the USD/ EURR. Let's just say they're a safer way to use.
Agreed. I've been looking for a solid USDT alternative since the Kraken/Binance delistings hit. If Oobit's platform is user-friendly and the cashback is real, I might give EURR a shot for some online purchases.