Coinbase Delays Launch of Euro Coin

02/22/2023 01:58 • NFT Newsflash • 126 views

According to the official news, Coinbase announced the postponement of the launch of Euro Coin, the euro stable currency. According to the latest information, if the liquidity conditions are met, the transaction will start at 9:00 a.m. on February 27, 2023 (1:00 a.m. on February 28, Beijing time) or later.

Coinbase will delay the launch of Euro Coin

Interpret the above information:

Coinbase, one of the leading cryptocurrency exchanges, has announced the postponement of the launch of its latest product – Euro Coin, a euro-backed stable currency. While the exchange had previously announced February 25, 2023 as the launch date, the latest update suggests that it will only commence trading at 9:00 a.m. on February 27, 2023 or later, subject to the fulfillment of certain liquidity conditions.

The reason for the delay remains unclear though. However, given the previous issues around stable currencies and liquidity, it appears that Coinbase is taking a cautious approach to safeguard the interests of its users. Stable currencies like Euro Coin are expected to be more stable than other cryptocurrencies, as their value is tied to that of a real-world currency, in this case, the euro. However, this stability can only be achieved if there’s sufficient liquidity to meet the demands of users.

On its part, Coinbase has stated that it is committed to providing a stable and reliable platform for the trading of cryptocurrencies. Given its reputation as being one of the most trusted names in the industry, it is no surprise that the exchange is taking extra steps to ensure the success of Euro Coin. However, this cautious approach may also be due to the increased scrutiny that stable coins have been receiving from regulators who are looking to curb the negative impact of these digital assets on traditional banking systems.

In conclusion, the postponement of the launch of Euro Coin by Coinbase may come as a bit of a surprise to some traders and investors, who have been eagerly anticipating its release. Nevertheless, it is always better to err on the side of caution, particularly when dealing with new financial products. It is hoped that Coinbase will be able to fulfill the liquidity conditions in time to allow for the launch of the stable currency as scheduled.

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Coinbase Delays Launch of Euro Coin

Coinbase will delay the launch of Euro Coin

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