Curve Finance , Decentralized Finance or DeFi protocol, announced today that it supports Tether’s Euro-Pegged token, EURt.
Therefore, the mass adoption of EURt continues , Tether’s EURO token which, after USDT, seems to be becoming more and more interesting to meet the needs in DeFi.
Michael Egorov , CEO of Curve Finance, commented on the new event:
“The addition of EURt represents an important step towards moving the on-chain Forex markets and towards a world where the financial system will be fully decentralized. Historically, both Tether and we have focused primarily on USD-denominated stablecoins. But we think the addition of EURt is an important step in a world that consists of more countries that have non-USD stablecoins ”.
Curve Finance is an automated market maker protocol designed for swapping between stablecoins and other digital tokens with low fees and slippage. Its choice to add EURt is therefore based on the possibility of responding to the market of at least 19 member states of the European Union which are not interested in the exchange with USDT.
And, in fact, the euro is also the second largest reserve currency and the second most traded currency in the world, exactly after the US dollar.
Tether EURO (EURt) and its expansion into DeFi
Tether ‘s euro-anchored stablecoin is proceeding with its expansion , primarily in the world of DeFi.
In this regard, Paolo Ardoino , CTO of Tether Operations Limited stated:
“As DEXs grow in popularity, so do the needs of their user base and we see great potential for Tether token uptake on the platform. We are thrilled that Curve is now supporting EURt ”.
Curve Finance isn’t the only platform supporting EURt. In fact, just last week, to clinch the record as protocol DeFi to support the stablecoin pegged to the euro of Tether EURt, was CREAM Finance . The decentralized, blockchain agnostic peer-to-peer lending platform based on a fork of Compound Finance, was already welcoming other stablecoins, all pegged to the US dollar.
Not only that, to respond to the continued growth in demand, the Bitfinex and Bitstamp exchanges are also offering EURt trading pairs .
Meanwhile, Curve Finance tweeted a few hours ago requesting a vote on the rewards indicator for the EURt pool.