Bitstamp Expands Support for the Euro-Backed Tether Stablecoin in Response to Rising

    Bitstamp Expands Support for the Euro-Backed Tether Stablecoin in Response to Rising

    The Rapid Rise of Euro-backed Tether Stablecoins

    Recent Developments have heightened the attention of financial authorities, as Bitstamp Tether Stablecoin expands support in response to the rising demands of stable digital currency and paving the way to possibilities and hurdles posed by new forms of digital currency. Presently, the Cryptocurrency exchange Bitstamp has extended its support to the rising demand for Euro-Backed Tether Stablecoin. The Bitstamp euro users having access to EURT will enable them to trade stable currency without using another stablecoin as an intermediary, saving time and money without reducing their purchasing power, as Miha Vidmar, Bitstamp’s chief product officer, told the press. Bitstamp supported euro-backed coins will allow the Bitstamp customers the benefit of a 90 percent discount on trading fees from its launch on 22 July 2021 until the very end of 2021.

    Since the Bitstamp adds support for the Euro-backed Tether stablecoin, it will allow the Tether to dominate the market share alongside their rivals such as Stasis EURS. Bitstamp supported euro-backed coins will also aid the users in Europe to make transactions like trade, deposit and transfer the cryptocurrency without the need for stable coins. According to data from Bitwise, Bitsmap is the world’s fifth-largest exchange by bitcoin trading volume, and Bitstamp supported euro-backed coins could be the gateway that helps spur crypto’s global adoption of digital currency.

    Bitstamp Adds Support for Euro-Backed Tether Stablecoin extending crypto exchange, demonstrating the growth to the asset class for the range of different people across the United States. The glimpses of the recent development in the explosive issuance of stablecoins, which have grown to more than $100 billion amidst the pandemic, gives hope to the majority of the crypto market for the Bitstamp supported euro backed coins, but it still remains too early to determine whether euro-backed coins will eventually set alarm bells all year. 

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