Wallex Introduces EURST, A Unique And Innovative Stablecoin By CoinQuora

Wallex Introduces EURST, A Unique And Innovative Stablecoin

What is Wallex?

Everyone would agree that this industry is continually evolving and undergoing key changes as time progresses. As such, there is a clear need for a solution that requires these changes, and that it can only provide a banking solution that can be used for a long time to come. This is where Wallex comes in.

Wallex touts itself as the ‘banking solution of the future’, a solution that not only offers the aforementioned services but also readily complies with KYC, AML and other regulatory guidelines while simultaneously adhering to management standards.

Essentially, you can seamlessly convert Euros to USD. In this way, users are provided with a solution that both caters to their needs and keeps them safe at the same time.

The significance of EURST

In the past, Wallex launched EURST, a 100% asset-backed euro stablecoin based on Ethereum’s ERC-20 token standard. The EURST team is dedicated to the improvement of international markets, and is widely prioritized from the start. This is important because there has been a rapid rise in fraudulent entities and malpractices.

EURST was among the first stablecoins to accept this degree of third-party verified monitoring and visibility. To assure consumer redeemability, EURST leverages the functionality of the blockchain, the Euro, and finally a full-reserve model.

In addition, they are usually obsolete as soon as they are delivered, real-time attesting reports.

The importance of stablecoins

The EURST team has committed itself to a fundamental and systemic change in international markets, with transparency having been a primary objective from the beginning. This is a significant increase in fake businesses and malpractices, which rightly made investors more wary and vigilant. EURST seems to be the only stablecoin that users can get and redeem on demand, which is great because stablecoins are among the most important aspects of the crypto and blockchain industry. Investors and traders have often used stablecoins to quickly buy and sell their crypto assets, especially when time is of the essence. As stablecoins will always retain their price and not drastically fluctuate, they are incredibly valuable and EURST is no different.

Authorized users can setup mint tokens via the Ethereum blockchain by bank transfer or directly using their card. Also, there is no pre-minted EURST tokens, which sets it apart from any other stablecoin on the market. EURST tokens are quite simple to buy or sell because they are ERC-20 tokens, and therefore can be used for cryptocurrency trading, a store of value, and various other related purposes. Traders can trade against EURST in reputable exchanges such as HitBTC, FMFW.io, and the decentralized exchange via both BTC and ETH pairs.

What does Wallex have planned for the future?

The Wallex ecosystem provides innovative banking and custody services with a wide range of features that mix blockchain technology with traditional finance. The platform’s infrastructure will support the future of virtual and physical assets while also providing a new experience which benefits everyone. Wallex’s future goals will focus on improving stability and compliance, as well as on educational efforts.

Ultimately though, the team’s overall vision will remain the same which can help investors enter the world of digital assets safely and assist them in diversifying their portfolios and developing new wealth management behaviors and business strategies.

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