EURI Explained: The Euro Stablecoin Regulated Under MiCA

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All About EURI: The Euro-Backed Stablecoin by Banking Circle

EURI is a regulated euro stablecoin issued by Banking Circle S.A., a Luxembourg credit institution supervised by the CSSF.

It’s a 1:1 euro-pegged e-money token (EMT), fully compliant with the Markets in Crypto-Assets Regulation (MiCA), designed to make euro transactions faster, safer, and borderless on-chain.

Key Takeaways

  • Issuer: Banking Circle S.A. (Luxembourg)
  • Type: E-Money Token (EMT) under MiCA (EU 2023/1114)
  • Backing: 100% euro cash and low-risk liquid assets
  • Parity: 1 EURI = 1 EUR
  • Networks: Ethereum (ERC-20) and BNB Smart Chain (BEP-20)
  • Redemption: Always at par value, with no fees
  • Oversight: Fully supervised by the CSSF, compliant with ESMA standards

What Is EURI?

EURI is a digital representation of the euro, a regulated token that mirrors one physical euro held in reserve.

Each EURI token is created only when euros are deposited and destroyed when redeemed, keeping the value perfectly stable.

Unlike traditional crypto tokens, EURI functions as electronic money. This gives users:

  • Full legal redemption rights
  • Clear regulatory protection
  • Transparency over reserves and issuance

Did You Know?

EURI is among the first euro stablecoins officially recognized under the EU’s MiCA framework, setting the standard for how digital euros will operate across Europe.

About the Issuer

Banking Circle S.A. is a Luxembourg-based credit institution authorized by the Commission de Surveillance du Secteur Financier (CSSF).

It processes billions of euros in cross-border payments each year and serves major fintechs and banks across Europe.

By launching EURI, Banking Circle brings institutional-grade reliability to the blockchain ecosystem, merging traditional finance with on-chain technology.

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How EURI Works

When users deposit euros into Banking Circle, the same amount of EURI tokens are minted on the blockchain.

When they redeem, the tokens are burned and euros are released back to the user.

Funds are kept in segregated fiduciary accounts, separated from the bank’s operational funds.

This means that even if Banking Circle were to fail, token holders retain their legal right to their euros.

In Simple Terms

  • You deposit euros → EURI is minted.
  • You transfer, hold, or use it digitally.
  • You redeem anytime 1:1 for euros, with no conversion cost.

Blockchain Infrastructure

EURI runs on Ethereum and BNB Smart Chain, ensuring global accessibility and interoperability.

All smart contracts are open-source, security-audited, and publicly verifiable.

Banking Circle partners with Fireblocks for MPC (Multi-Party Computation) wallet technology, eliminating single points of failure.

Future plans include support for other EVM-compatible chains to expand liquidity and usability.

Regulation Under MiCA

EURI operates under the Markets in Crypto-Assets Regulation (MiCA), the new EU law governing stablecoins and digital assets.

This framework ensures that every EURI token is:

  • Fully backed by liquid euro reserves
  • Redeemable on demand at 1:1 value
  • Managed by a licensed credit institution
  • Audited and reported to regulators regularly
  • Compliant with AML/KYC and 5AMLD standards

This transparency and legal clarity make EURI one of the most secure euro stablecoins ever issued.

Transparency Fact: All reserves are verified and legally protected as a fiduciary estate, guaranteeing redemption rights even in insolvency scenarios.

What Backs EURI

The stability of EURI comes from its simple, transparent reserve model.

Every token is backed by:

  • Cash deposits in euros, and
  • Low-risk, short-term financial instruments, such as government bonds or central-bank deposits.

These reserves are fully segregated and bankruptcy-remote, belonging legally to token holders.

Main Use Cases

EURI brings regulated on-chain euros to both businesses and consumers.

It enables:

  • Instant euro payments and settlements
  • Treasury operations and digital payrolls
  • DeFi participation with a regulated stable asset
  • Cross-border transactions with no FX conversion
  • Volatility protection for traders and institutions

EURI is the missing link between traditional banking systems and decentralized finance—a euro stablecoin you can actually trust.

Transparency and Security

Banking Circle applies a multilayer security and transparency model:

  • Real-time on-chain supply monitoring
  • Continuous AML and fraud screening
  • Fireblocks MPC for key protection
  • Regular reserve attestations and CSSF supervision

This ensures EURI’s issuance and redemption remain transparent to both users and regulators.

How to Get and Redeem EURI

EURI is available on major exchanges, and can be held in any compatible ERC-20 or BEP-20 wallet.

To redeem:

  1. Contact redemption@bankingcircle.com.
  2. Complete KYC verification.
  3. Send your EURI to the official burn address.
  4. Receive 1 EUR per EURI within five business days.

There are no redemption fees, and transactions remain compliant with EU AML rules.

EURI vs Other Euro Stablecoins

EURI vs Other Euro Stablecoins
Feature EURI (Banking Circle) EURC (Circle) EURe (Monerium)
Regulatory Basis MiCA (EU 2023/1114) Pre-MiCA framework E-Money Directive
Issuer Type Licensed Credit Institution Fintech / EMI Electronic Money Institution
Backing 100% cash + low-risk euro assets Cash + short-term securities 100% bank deposits
Redemption 1:1 EUR via Banking Circle 1:1 via Circle Account 1:1 via Monerium
Transparency On-chain supply + fiduciary reporting Monthly attestations Audited statements
Jurisdiction Luxembourg (CSSF) Ireland / US Iceland (FSA)

The Future of EURI and On-Chain Payments in Europe

EURI launches at a decisive time. From June 2024, MiCA regulation governs all stablecoin issuers across the EU, setting strict standards for consumer protection and transparency.

EURI’s model shows how euro stablecoins can become part of the next generation of instant settlement systems, digital treasury tools, and programmable finance.

In the long term, EURI could act as a bridge between private stablecoins and central bank digital currencies (CBDCs)—supporting on-chain payments that are fast, secure, and fully compliant.

Why EURI Matters

EURI is not just another euro token, it’s the foundation of a regulated digital-euro economy.

It combines financial-grade safeguards with blockchain accessibility, allowing euros to move freely across borders and platforms without friction.

For fintechs, DeFi platforms, and institutions, it provides a trusted, MiCA-compliant settlement layer.

For individuals, it offers the first truly safe euro stablecoin they can hold, send, and redeem with confidence.

FAQs

What is EURI?

A euro-backed e-money token issued by Banking Circle S.A. under MiCA regulation.

Is EURI safe?

Yes. It’s fully backed, redeemable 1:1, and managed by a licensed EU bank.

Where can I buy EURI?

Initially available on Binance, expanding to other exchanges soon.

Can I redeem EURI anytime?

Yes. 1 EURI always equals 1 EUR, with no redemption fees.

Is it covered by deposit insurance?

No. Like all stablecoins, it’s not insured, but reserves are legally protected and segregated.

Conclusion

EURI merges traditional financial trust with blockchain innovation.

As Europe’s first MiCA-compliant euro stablecoin, it sets a new benchmark for transparency, stability, and accessibility.

EURI isn’t just a token, it’s the blueprint for how digital euros will circulate in the future.

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