The Spanish fintech Monei began testing on January 31 with EURM, a stablecoin anchored to the euro whose project was admitted to the regulatory sandbox supervised by the Bank of Spain.
Tether Holdings Limited, the issuing company of the USDT stablecoin, has surpassed one of the Wall Street giants, Goldman Sachs, in profits in the last quarter of 2023.
The issuer of stablecoins announced that from now on its token EURC is active on the blockchain Solana (SOL ), known for its low cost, fast transactions and a vast ecosystem of decentralized applications.
A stablecoin is a digital currency backed by a reserve asset, which can be fiat money (currency in circulation), precious metals (gold, silver or oil), or simply protected by an algorithm, with the intention of keeping its price stable.
Tether is a stablecoin. This type of cryptocurrency actively works to keep its valuation stable through market mechanisms.
When we talk about Cryptocurrencies, or virtual currencies, we refer to the money that only exists in the digital environment.