Next Generation Partners with Decta to Launch Euro-Pegged Stablecoin EURT
Next Generation has partnered with Ireland’s electronic money institution Decta to spearhead the launch of a stablecoin pegged to the Euro with ticker EURT.
In a recent blog post, Decta said the two firms have entered into a partnership to launch their EURT stablecoin, which will be fully compliant with Markets in Crypto-Assets Regulation (MiCA) requirements.
The stablecoin will launch on the Stellar blockchain and support three additional platforms.
Decta said that EURT will uphold transparency by subjecting its reserves to scrutiny by a leading international auditing firm.
Furthermore, the company aims to garner widespread backing for EURT by forging strategic alliances with reputable financial institutions, thereby introducing fresh avenues for depositing and withdrawing funds.
“The implementation of MiCAR heralds a new chapter in the evolution of modern digital finance in Europe. With European coins currently underrepresented, we anticipate a rapid surge in their prominence,” Suren Hayriyan, President of Next Generation, said.
Next Generation and Decta collaborate on euro stablecoin project https://t.co/AzM6yeK2Sb
— Finextra (@Finextra) August 5, 2024
Hayriyan projected a potential market cap for EURT reaching up to $4 billion by 2026, underscoring the growth potential within the stablecoin sector.
While the global stablecoin market capitalization surpasses $160 billion, Euro-pegged stablecoins constitute a mere fraction at $280 million.
Anticipating remarkable growth, Next Generation forecasts the market capitalization of Euro-backed stablecoins to escalate to $15 billion in 2025, $70 billion in 2026, and surpass a staggering $2.5 trillion by 2029.
“I do not expect, of course, that we will soon see parity in the positions of
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