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How to Pay with Cryptocurrency While Traveling
Here’s a step-by-step guide on paying with KUNA Pay while traveling
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As we all know, the digital currency world changes so quickly and with its own predictability at times- it is essential to have a safe haven when dealing in this space. It is one of the most stablecoins among all leading ones, with USD Coin/USDC and EURCoin/EURC providing an unique edge that satisfies sound market demands. Both these coins are tethered to two major fiat currencies; USDC against the U.S. dollar and EURC pegged to Euro, thus limiting price volatility an ensuring users confidence.
USDC is a proven and easy to use stablecoin backed by openly published USD reserves that are regularly audited. Strong connections to U.S. financial networks make this a favored jurisdiction for those who require stability and regulatory compliance, both in the private sector as well as public administration side increasing demand amongst foreigners seeking US dollar based service including (non-resident) corporations. In Decentralized finance ( DeFi) platforms, for cross-border transaction and during the market crash become safe-heaven stablecoins.
The second one, EURCoin (EURC) offers the stability of Euro in terms of digital asset. Being the second most traded currency in the world, a highly connected corridor is indispensable for anyone working within—or rather buying or selling from or into—Europe. The need for a Euro-backed stablecoin similar to USDC, offered by EURC that is as transparent and secure.
USDC and EURC are both stablecoins that differ from others due to their emphasis on regulatory compliance and transparency. USDC and EURC are not among some stablecoins whose reserve backing have been the subject of scrutiny, as they are backed 1:1 by reserves held in segregated accounts which also undergo regular audits. It makes each coin redeemable for the equivalent fiat currency and gives you a stamp of proof.
Moreover, while Tether (USDT) remains the most popular stablecoin by market capitalization, it has faced criticism over its opaque reserve practices and regulatory challenges. In contrast, USDC and EURC prioritize transparency, making them more trustworthy options for users who value security and compliance.
The Markets in Crypto-Assets (MiCA) regulation, set to be fully implemented by January 2025, marks a significant milestone in the European Union's approach to digital assets. MiCA aims to create a comprehensive regulatory framework for crypto-assets, ensuring consumer protection, market integrity, and financial stability.
USDC and EURC are well-positioned to thrive under MiCA, thanks to their existing commitment to regulatory compliance. MiCA's emphasis on transparency, reserve management, and consumer rights aligns perfectly with the operational principles of these stablecoins. As a result, both USDC and EURC are expected to gain even more traction within the European market, as users seek stablecoins that meet stringent regulatory standards.
As MiCA regulation takes full effect, EURCoin is poised to outshine Tether (USDT) in the European market. While USDT has been a dominant force, its lack of transparency and ongoing regulatory scrutiny may hinder its growth under the new regulatory environment. EURC, with its Euro backing and strict adherence to regulatory standards, will likely become the preferred choice for Euro-denominated transactions.
Furthermore, EURC's integration into the European financial ecosystem will be seamless, given the Euro's prominence in global trade. As businesses and consumers look for compliant and stable digital assets, EURC's regulatory advantages will make it a superior option to USDT, particularly within the EU.
USDC and EURCoin represent the future of stablecoins, offering unparalleled transparency, regulatory compliance, and stability. As MiCA regulation reshapes the landscape of digital currencies in Europe, these stablecoins are set to become even more valuable. EURCoin, in particular, is well-positioned to surpass USDT as the go-to Euro-backed stablecoin, providing a secure and compliant option for users navigating the new regulatory environment.
UAB Kuna Pro is registered as a crypto currency exchange operator and a crypto currency wallet operator and is authorized to provide virtual currency services in accordance with Lithuanian legislation.
The site and other components of the services are protected by intellectual property laws. All rights reserved. Access to the services and the site is provided under the KUNA trademark registered in the Madrid system, which covers the UK, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Turkey, Ukraine, and the European Union.
