Digital Payments News

Whalestack Leads the Charge in Elevating European Business with EURC Stablecoin Payments

Whalestack Leads the Charge in Elevating European Business with EURC Stablecoin Payments

USD-pegged stablecoins usually dominate discussions, but Whalestack is also significantly influencing the exciting narrative around EUR stablecoins.

In the world of stablecoins, USD-pegged tokens often dominate the conversation. Yet, an equally exciting story is unfolding with EUR stablecoins – a narrative that Whalestack is actively shaping. As we pioneer EURC stablecoin payment solutions tailored for European markets, we’re not just diversifying digital currency payment options; we’re setting new benchmarks.

The Emerging EUR Stablecoin Sector

While the EUR stablecoin market is relatively nascent, with a capitalization of approximately 250 million EUR, it holds considerable potential, especially when contrasted with the $150 billion USD stablecoin market. In 2022, stablecoins across several Layer-1 networks processed transactions totaling $6.87 trillion, surpassing the transaction volumes of giants like Mastercard and PayPal, as reported by Bloomberg Intelligence crypto market analyst Jamie Coutts.

To address this large market opportunity, Whalestack is integrating EURC, the leading euro-backed stablecoin that’s always redeemable 1:1 for euros (Source). EURC is issued by Circle, the global financial technology company and issuer of the leading regulated digital dollar, USDC.

Browse more about Fintech Insights: Global Fintech Interview with Sadra Hosseini, CEO at Ryft

Advantages of EURC for Businesses

The integration of EURC stablecoin payment processing by Whalestack enables businesses and individuals to conduct transactions using a digital currency that confers the stability of the Euro. This feature is particularly advantageous for those within the Eurozone or entities conducting business with European partners.

Businesses benefit from reduced transaction fees compared to traditional banking, faster processing times, and the inherent stability and predictability of the Euro. The seamless integration with digital platforms, including e-commerce systems and financial applications, offers an enhanced, streamlined experience for both businesses and their customers.

EURC on Blockchain vs. EUR in Banks

Choosing to hold EURC on-chain rather than traditional EUR in bank accounts can offer numerous advantages, especially for those engaged in digital transactions or in need of increased operational flexibility and efficiency.

Key benefits of this choice include faster processing of transactions, lower associated costs, and continuous accessibility, 24 hours a day, 7 days a week. In addition, the nature of programmable money with EURC brings added value in terms of financial inclusivity and improved security measures.

Whalestack’s Implementation of EURC on Stellar

1. Streamlined Checkouts with EURC and USDC on Stellar:
Whalestack is revolutionizing the checkout process by facilitating transactions in EURC and USDC via the Stellar network. This innovation not only simplifies payments but also integrates the stability of these pegged currencies, mitigating the volatility often associated with cryptocurrencies. Businesses benefit from predictable financial planning, while customers enjoy a reliable and seamless payment experience.

2. USDC and EURC On- and Off-Ramping:
Whalestack’s integration with SEPA and SWIFT for USDC and EURC transactions represents a significant advancement. This allows for seamless transfers between these stablecoins and traditional banking networks, creating a bridge between digital currencies and familiar banking systems. Users gain from the widespread adoption and lower volatility of these stablecoins, along with the convenience of established banking protocols.

Whalestack stands as a leader in the digital currency payment sector, offering innovative solutions designed to streamline financial operations for modern businesses. By integrating blockchain technology with traditional banking systems, Whalestack provides a unique blend of services tailored to meet the evolving needs of digitally-focused businesses and entrepreneurs.

Latest Fintech Insights : Global Fintech Interview with Kapil Kale, Co-founder and COO of Tremendous

[To share your insights with us, please write to psen@itechseries.com ]

Related posts

AQUARIS Brings Blockchain To The Aquatic Industries

Fintech News Desk

Century Business Solutions Partners With Innormax LLC to Deliver Credit Card Processing Within SAP Business One

Fintech News Desk

PickNik Robotics And CisLunar Industries To Collaborate On In-Space Metal Processing

Fintech News Desk
1