Binance is making waves by adding a new regulated euro-backed stablecoin called Eurite (EURI) to its platform. Starting at 10:00 UTC on August 28th, you can trade EURI in both euros and US dollars.

What’s exciting is that Binance is offering zero trading fees for a limited time. This stablecoin, created by Banking Circle, aims to be the first euro-pegged stablecoin that meets the European Union’s Markets in Crypto Assets Regulation (MiCA). You can find EURI as an ERC-20 token on Ethereum and a BEO-20 token on the BNB Smart Chain.

Daniel Lee, the head of Web 3 at Banking Circle, shared some insights. He said, “By combining cutting-edge technology for the digital asset industry and ensuring compliance with the latest European regulations, Banking Circle can provide stablecoin users with the robust banking service and infrastructure they deserve. This makes stablecoins accessible to a wider audience wanting 24/7 access to instant payments.”

The launch of EURI is a big step for Banking Circle. It sets a strong foundation for future stablecoin and tokenized money launches, giving the market more choices and options.