AEUR Stablecoin Issuance, Withdrawal Suspended Amid FlowBank Crisis

IconCryptoNewsTerminal Staff15 Aug, 2024

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AEUR Stablecoin Issuance, Withdrawal Suspended Amid FlowBank Crisis

AEUR Stablecoin Issuance, Withdrawal Suspended Amid FlowBank Crisis Following the bankruptcy crisis at Swiss bank FlowBank, Anchored Coins AG, the issuer of the euro-pegged stablecoin AEUR, has suspended new issuance and withdrawals of AEUR, according to a report by DLNews. Anchored Coins holds a portion of its AEUR reserves with FlowBank. The suspension of AEUR issuance and withdrawal is a precautionary measure taken by Anchored Coins to protect its customers' assets. The company is closely monitoring the situation at FlowBank and will provide updates as they become available. In the meantime, AEUR holders can continue to trade their tokens on decentralized exchanges. However, it is important to note that the suspension of issuance and withdrawal may impact the liquidity of AEUR. The AEUR stablecoin is designed to be pegged to the euro. It is backed by a basket of fiat currencies and digital assets. The suspension of issuance and withdrawal could put pressure on the AEUR peg. It is important for AEUR holders to stay informed about the latest developments and to make their own decisions about whether or not to continue holding the token.

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