Curve Finance, an automated market maker protocol designed for swapping between stablecoins and other digital tokens with low fees and slippage, has today announced that it will support tether tokens pegged to the euro (EURt).
The addition of EURt to Curve – a protocol designed to create deep on-chain liquidity using advanced bonding curves – forms part of a surge in interest for the tether token pegged to the euro in the digital token space.
“As DEX’s grow in popularity, so do the requirements of their user base and we see great potential uptake of Tether tokens on the platform,” says Paolo Ardoino, CTO at Tether Operations Limited. “We are excited that Curve is now supporting EURt.”
“Adding EURt represents an important step towards moving Forex markets on-chain and to a world where the financial system will be fully decentralised,” says Michael Egorov, CEO at Curve Finance. “Historically both Tether and us were mostly focused on USD-denominated stablecoins. But we think the addition of EURt is an important step in a world that consists of multiple countries having non-USD stablecoins.”
EURt is growing in popularity across the digital token space with Bitfinex and BitStamp listing new tether EURt pairs to support burgeoning demand. The listing of these pairs offers users on these platforms additional fiat onramp options when looking to earn a yield in euros.
The euro is the official currency for 19 European Union member states and is the second-largest reserve currency and the second-most traded currency in the world after the US dollar.
