Stablecoin European Crypto Currency Unit

The collapse of FlowBank SA, a Swiss bank, is causing significant uncertainty for Anchored Coins AG, the issuer of the euro-pegged stablecoin AEUR. With $63 million in AEUR reserves partially held at the bankrupt bank, Anchored Coins has paused withdrawals and stopped accepting new customers.The company warns that AEUR holders may face losses if the reserves at FlowBank cannot be fully recovered. The situation remains uncertain as Swiss authorities have yet to appoint a liquidator to manage the return of deposits, potentially impacting the 1:1 redemption of AEUR stablecoins.This development follows previous issues, including a brief trading suspension of AEUR on Binance due to an unusual price surge.

Swiss Bank Collapse Casts Doubt on Euro Stablecoin Withdrawals

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