MiCA regulated stablecoin

Eurite Euro Token (EURI) is:

Issued by Banking Circle S.A
Pegged 1:1 to the Euro, backed 1:1 by cash in Euros
Available 24/7
An ERC-20 token on the Ethereum Blockchain
A BEP-20 token on the BNB Smart chain
Fully redeemable at no fee

EURI is one of the first MiCA regulated EURO stablecoins

Eurite (EURI) is regulated by the Markets in Crypto-Assets Regulation (MiCA) in the EEA. Issued by Banking Circle S.A., EURI compliments Banking Circle’s existing payment systems. This includes efficient payment solutions, managed volatility exposure, smart contracts, out of hours settlement and treasury management. Being one of the first MiCA regulated EURO stablecoin is important as it ensures compliance with stringent EU standards, enhancing trust, credibility, and confidence for holders. Regulatory compliance with MiCA ensures consumer protection, transparency, and financial stability, reducing legal risks and promoting transparency and safety.

Customer funds are safe

Banking Circle S.A. has been granted authorisation as a credit institution under the supervision of the Luxembourg Commission de surveillance du secteur financier (“CSSF”) to issue EURI.

Bankruptcy remote with segregated funds

Funds are bankruptcy remote in the event of an insolvency of Banking Circle S.A.

All customer funds that are received by Banking Circle as fiat currency for the purchase of the EURI, will be segregated in another account, separate from Banking Circle’s own assets, in accordance with the 2003 Act (the “Safeguarded Customer Funds”).

This means that the Safeguarded Customer Funds are only used for specific purposes and are protected if Banking Circle goes bankrupt. If the stability of EURI is threatened, the holders of EURI will be recognised as the beneficiaries of the Safeguarded Customer Funds.

Trusted Attestation and audited smart contract

Banking Circle and EURI is attested by a top tier auditor to ensure tokens in circulation are backed 1:1. Our smart contract has also been audited by PeckShield. See here.

Built on blockchain technology

As a regulated e-money token (stablecoin), Eurite (EURI) offers the stability of conventional fiat currencies with the ease of use that blockchain technology brings to financial transactions.

How EURI works

Subject to successful KYC checks and completion of the onboarding process by Banking Circle S.A., a successfully onboarded institutional user (exchange, liquidity provider, or trading platform) subscribes to purchase EURI from Banking Circle S.A.
The user can buy EURI, 1:1 by depositing Euro to Banking Circle’s bank account.
Banking Circle mints new EURI equal to the Euro cash received and sends EURI to the institutional user’s wallet
The institutional user can then make EURI available to be bought, sold, stored, transferred or traded with others, 24:7
When EURI is returned to Banking Circle, the EURI will be burnt and the corresponding amount of Euro will be returned to the institutional user’s bank account.

EURI facilitates faster, safer and more efficient financial transactions

Means of Payment
for Digital-Assets

Use EURI for fast and efficient settlement of other digital-assets.

Managing volatility exposure

EURI is designed to be resistant to volatility. Pegged 1:1 and backed one for one by cash in Euros allows EURI to control its pricing stability.

Remittances

As an international payment solution, EURI removes the friction seen in traditional cross-border transactions. EURI allows fund transfers (subject to any applicable selling or distribution restriction) without delays or high fees.

Out of Hours Settlement

Blockchain technology enables 24/7 settlement of transactions. Financial market participants can use EURI as a settlement means outside of traditional banking hours.

Segregation of Customer funds

Safeguarded Customer Funds are only used for specific purposes and are protected if Banking Circle goes bankrupt.

Smart Contracts / Decentralised Finance

EURI can be used in smart contracts, allowing infinite use cases as innovations continues in the field of decentralized finance.

Download our Whitepaper

Learn more about EURI

FAQ

What is a EURI token?

EURI is the ticker for the electronic money token (stablecoin) known as Eurite. It is issued by Banking Circle S.A and subject to regulatory requirements of Markets in Digital-Assets Regulation (MiCA) . All EURI tokens are issued in exchange for Euro cash which is held in a fiduciary reserve account by Banking Circle S.A..

How does Eurite (EURI) work?

EURI will be issued as an ERC-20 token on the Ethereum (“ETH”) Blockchain and as a BEP-20 token on the BNB Smart Chain (“BSC”) blockchain which will be pegged to the Euro on a 1:1 basis.

EURI will be issued at par value (i.e. 1 EUR for every EURI) on the receipt of funds from subscribers

How can I buy Eurite (EURI)?

EURI will be offered on major digital asset trading platforms. Currently, EURI is available on Binance at https://binance.com. We will announce other major exchanges as EURI lists on them.

Is the smart contract audited?

The smart contract is audited by PeckShield and is available here.

Is the issuer of Eurite (EURI) Token regulated?

Yes, the issuer of Eurite (EURI) Token, Banking Circle SA, is regulated in Luxembourg and has been granted authorisation as a credit institution under point (1) of Article 4(1) of Regulation (EU) No 575/2013, (Bank number LUB00000408). The issuer is under the supervision of the Luxembourg Commission for the Financial Sector (CSSF).

https://www.bankingcircle.com/

Who should I contact for business development or co-operation opportunities?

Please contact our business development leads at info@eurite.com

Can I redeem my tokens?

Yes. The holders of EURI have a right of redemption at any time and at par value, meaning that they can request for Banking Circle to redeem (return) the EURI at par value (EUR 1 per EURI) at any given time, subject to satisfactory customer due diligence checks being carried out by Banking Circle S.A. The redemption of EURI token shall not be subject to a fee. To redeem EURI directly with Banking Circle, reach out to us at redemption@bankingcircle.com. Redemption is subject to completing customer due diligence checks, and returning the relevant EURI. For more information, please refer to our Whitepaper.

What blockchains does Eurite (EURI) run on?

Tokens will be issued on the Ethereum and BNB Smart Chain (“BSC”) blockchains which follow the ERC-20 and BEP-20 protocols respectively. These decentralised blockchains provide the ability for consensus confirmation of transactions using a Proof of Stake mechanism (“PoS”) for Ethereum Blockchain and the Proof of stake Authority (“PoSA”) for BNB Smart Chain, immutability of records, and public transparency to market participants.

Does Eurite have a social media page?

Please be aware that @eurite_BC on X, https://x.com/eurite_bc is the ONLY official social media account for all EURI communications. We do not have a Telegram channel and all profiles claiming to represent us are fraudulent and should not be trusted. Stay safe and do not engage.