Euro e-money token (EURI)

Banking Circle, a Luxembourg payments bank, launched EURI on 26 August 2024, a euro e-money token under MiCA that it describes as the first bank-backed stablecoin under the regulation. Each token is redeemable at par, with the reserves held in cash and cash equivalents in a bankruptcy-remote structure. It was issued on Ethereum and BNB Smart Chain, and most of it is held on Ethereum.