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David Princay: Eurite is 'becoming one of the most traded stablecoins in the Europe ecosystem'

Web3/Crypto
Webp untitled design 14
David Princay | https://x.com/davidprincay/photo

David Princay, President of Binance France, said that Eurite has quickly become one of the most traded stablecoins in the European ecosystem, signaling a step forward for blockchain innovation in Europe. Princay shared his statement in a September 6 post on X.

"One week after its launch Eurite already reached the symbolic 100 million daily volume, becoming one of the most traded stablecoin in Europe ecosystem," said Princay, President, Binance France. "It is the beginning of a success! It is the the first step of a keystone moment inside blockchain and Europe! We can expect many more innovations and new products linked to Eurite in the next coming weeks and you'll be sure to see us push it to the maximum!"

According to the European Commission, "The EU wants to be a leader in blockchain technology, becoming an innovator in blockchain and a home to significant platforms, applications and companies." The European Commission is a strong supporter of policy, legal and regulatory frameworks, as well as funding fronts for blockchain in Europe.

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Eurite is one of the first Markets in Crypto-Asset (MiCA) regulated European stablecoins issued by Banking Circle S.A., according to the Eurite website. It is pegged 1:1 with the Euro and backed 1:1 in cash by the Euro as well. Being one of the first MiCA-regulated stablecoins, "it ensures compliance with stringent EU standards, enhancing trust, credibility, and confidence for holders." Regulatory compliance with MiCA ensures consumer protection, transparency, and financial stability, reducing legal risks and promoting transparency and safety.

According to LinkedIn, Princay has been the President and General Manager of Binance France since December 2020. He attended Grenoble INP-UGA with Master's degrees in Science and Materials Engineering, Marketing, and Management. Afterwards, he attended HEC Paris and received a specialized degree in Management of Grand Projects. Before becoming President of Binance France, Princay had substantial experience working as a Junior Consultant at MAD Network, Commercial and Marketing Manager at Verseau Paris, and Pre-sales Manager at Gutenberg Technology.

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