Curve Finance announced that it added Euro as a secondary currency option following the user demands.
Curve Finance promotes euro stablecoins in DeFi
Decentralized stablecoin exchange Curve Finance has a liquidity pool for switching between a synthetic euro (sEUR) and Stasis Euro (EURS) stablecoin on the Synthetic derivative platform.
Even more, Curve is the fourth-largest DEX by volume. Curve is an automated market maker specialized in swaps between like assets. Moreover, the market of stablecoin is dominated by money pegged by USD.
This means that European and Asian users don’t have the option but to take on some USD exposure. Furthermore, Curve believes that the new pool will develop euro markets on the platform.
In addition, it will gauge interest in further currency options on Ethereum, and ultimately represent a step for opening foreign exchange markets. A governance proposal passed to enable CRV, a Curve DAO’s token to reward the liquidity providers in the pool.
Recently, the platform’s governance token and the contract deployed prematurely by a community member in August. The next month, Curve was one of 10 new members joining Huobi’s Global DeFi Alliance.
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