Tether EURt
Crypto Overview
Purpose and Utility
Tether EURt is a Euro-pegged stablecoin issued by Tether Operations Limited. Its primary purpose is to provide a digital representation of the Euro on blockchain networks, facilitating Euro-denominated transactions and trades in the cryptocurrency ecosystem. Each EURt token is designed to maintain a 1:1 peg with the Euro.
Business Model
The business model involves users depositing Euros with Tether, receiving EURt tokens in return. Tether maintains reserves to back these tokens, which can be redeemed for Euros. The company generates revenue through transaction fees and the management of its reserves.
Real-World Adoption
EURt has achieved significant adoption within cryptocurrency exchanges and trading platforms. It serves as a Euro-denominated trading pair and is used for international transfers, though its usage is notably less than its USD counterpart (USDT).
Platform Development
EURt operates on multiple blockchain networks including Ethereum and Tron, with regular technical updates and platform maintenance. The development focuses primarily on security, stability, and integration with various cryptocurrency exchanges and platforms.
Token Distribution
EURt tokens are created (minted) or destroyed (burned) based on user deposits and withdrawals. The supply is directly tied to the amount of Euros held in reserve, maintaining a transparent and auditable system.
Crypto Impact
To assign a comfort level investing in Tether EURt from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Tether EURt.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.