XRP Ledger ( XRPL ) The community welcomes a new stablecoin. This time, it has been achieved through GateHub: The company has launched a new euro-pegged stablecoin for blockchain payments, connecting blockchain with the traditional European banking network.

According to a press release issued on November 5th, GateHub has collaborated with the Slovenian financial services company Dinaro to launch GateHub Euro ( EURGH ). This is a stablecoin that complies with the requirements of MiCA (the European Union's 'Regulation on Markets in Crypto Assets') and is pegged to the euro.

This new stablecoin runs on both XRP Ledger and Xahau. Xahau is an alternative blockchain within the broader XRPL ecosystem and possesses smart contract capabilities.

One of the important aspects of EURGH is its integration with SEPA (the Single Euro Payment Area). With this integration, GateHub users can initiate instant euro payments to European banks directly from their XRPL and Xahau wallets.

GateHub indicates that such transactions can be completed in just a few seconds, thus connecting blockchain assets with the traditional banking system.

What is GateHub Euro ( EURGH )?

GateHub Euro is a stablecoin designed to maintain its value at 1 euro. This means that 1 EURGH should be equal to 1 euro. According to EU MiCA regulations, it is classified as an electronic money token ( EMT ).

GateHub Euro is issued by Dinaro. Dinaro is an authorized electronic currency institution regulated by the Slovenian Bank.

According to the terms published by Dinaro, after receiving euro funds, the company will issue EURGH in a 1:1 ratio. Token holders will be able to redeem EURGH for euros at face value, but this will require appropriate review and compliance with regulatory procedures.

Thanks to the integration of SEPA, GateHub users can access traditional European payment systems through digital wallets. This provides an alternative method to traditional crypto exchanges for converting funds and connecting them to traditional banking networks.

GateHub Euro is not the first euro-pegged stablecoin to appear in the cryptocurrency field, nor on XRP Ledger.

For example, Schuman Financial launched the euro stablecoin EUR ØP, which meets the requirements of MiCA.

At the same time, Circle has also launched EURC, which is a euro-pegged stablecoin that can be used for payments and transactions on multiple blockchains.

In addition, there is also EUR CoinVertible ( EURCV ) launched by Soci (formerly known as Géné rale-FORGE), the digital assets business unit of Société Générale in France.