What Is Eurite (EURI)?

Mica, Regulated, Stable and Blockchain.

Eurite (ticker: EURI) is a Euro pegged stablecoin issued by Banking Circle S.A., a licensed payments bank based in Luxembourg. It is regulated under the EU’s Markets in Crypto Assets Regulation (MiCA), and claims the distinction of being the first bank‑backed MiCA compliant stablecoin in the EU.

Key Characteristics:

  • 1:1 Euro backed: Each EURI token is fully backed by an equivalent amount of euros held in segregated, bankruptcy remote customer funds  .
  • Regulation by MiCA: Being regulated under MiCA provides jurisdiction‑wide EU legal oversight, consumer protection, and auditing obligations  .
  • Institutional issuance: EURI can only be initially minted by institutional clients who deposit Euros with Banking Circle; individuals can only access it on secondary markets  .
  • Dual chain tokens: Available as ERC‑20 on Ethereum and BEP‑20 on BNB Smart Chain (with plans to expand to other blockchains)  .
  • Audited and secure: The smart contract is audited by PeckShield, and token reserves are verified by a top tier auditor  .

Benefits & Use Cases:

  • Redemption at par: Holders can redeem at any time for €1 per EURI without fees  .
  • 24/7 settlement: Enables crypto native transactions outside of traditional banking hours, useful for international remittances or DeFi activity  .
  • Stable value: Pegged to the euro and fully collateralized, engineered to minimize price fluctuations 
  • Institutional usability: Designed for exchanges, liquidity providers, and trading platforms it streamlines fiat settlement and liquidity provisioning  .

Market Launch & Adoption:

  • Launch date: Banking Circle announced EURI on 26 August 2024, shortly after MiCA provisions for e‑money tokens took effect on 30 June 2024  .
  • Binance listing: Binance listed EURI starting 28 August 2024 with EUR/EURI and EURI/USDT trading pairs. Withdrawals became available from 29 August  .
  • Zero fee promotion: To encourage early adoption, Binance offered zero trading fees on EURI pairs during its launch phase  .
  • Growing supply: As of late 2024, reported market cap values varied one report estimated ~$36.5 M, another ~$27 M USD, reflecting low liquidity and early stage dynamics  .

MiCA was designed to standardize crypto regulations across the EU, enhancing transparency, stability, and consumer protection for stablecoins and crypto asset services.

The Financial Times however notes a potential loophole, MiCA does not prevent stablecoins issued outside the EU from circulating within it if fungible with EU issued tokens, creating possible systemic risk if reserves are separated across jurisdictions  .

EURI’s issuance through Luxembourg with dedicated euro based reserves ensures full compliance and avoids this arbitrage risk.

  • Eurite (EURI) is a euro backed stablecoin issued by Banking Circle, fully regulated under EU MiCA.
  • It offers institutional grade stability, regulatory transparency, and instant settlement via blockchain.
  • Its early adoption (e.g. on Binance) marks a significant step in bringing MiCA-compliant stablecoins to mainstream financial infrastructure.

EURI stands out as a legitimate, regulated Euro stablecoin, offering a bridge between traditional banking and blockchain ecosystems. For institutional clients and compliant services in the EU, it represents a major milestone in digital asset adoption.