Factors driving demand for a euro-backed stablecoin By Cointelegraph


Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of alternatives if they haven’t searched for them.

According to data from the International Monetary Fund, the euro is the world’s second most widely held reserve currency, behind the U.S. dollar and ahead of the . The euro is the official currency of the eurozone, comprising 20 of 27 member states of the European Union (EU), with over 300 million people using it as their base currency.