Pi Capital Union issues euro-backed stablecoin
The European group of companies Pi Capital Uunion has launched its own stablecoin in the form of an ERC20 token called EuPi, which is used in its multicurrency wallet and, in the future, on its own exchange. Each EuPi token is free from volatility and has an estimated value of € 1.
“People will be able to buy our euro-backed stablecoin in order to make transactions, as well as to purchase our tokens, which are fund units. Another of our products is Co Pi and Ca Pi, and you will need EuPi to purchase it, ”said Alex Zask, CDO of the startup, in an interview.
According to experts, the choice of the euro as the underlying asset for a stablecoin is a fairly common practice, and this method is one of the most truly stable.