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Benefits
An analysis of why EURC is not just another stablecoin.
Digital assets can be easily transferred across borders almost instantly and at a fraction of the cost of a network like SWIFT, however most digital assets suffer from price volatility.
Stablecoins are a digital asset that counteracts the issue of price volatility because they are an asset backed digital token pegged to a fiat currency.

Transparent

One of the largest factors for success in issuing a stablecoin is ensuring there is a 1:1 reserve held by the stablecoin issuer.
The EURC stablecoin is an asset backed stablecoin that will only be issued when the corresponding digital asset or fiat currency (Euro) is deposited on the MYKOBO platform.
All user crypto and fiat funds are kept in segregated accounts. This segregation will be verified by an external auditor and the reports will be published monthly.

Stable

Fiat currencies are also subject to volatility albeit significantly less than crypto currencies such as Bitcoin. A stablecoin used to power cross border payments would have to be pegged to a recognisable, trusted and respected international fiat currency.
EURC virtually eliminates price volatility by anchoring its value to the price of the Euro while still benefiting from high transaction speeds and low costs.
The Euro is widely viewed as a safe haven fiat currency during times of global instability.

Secure

The blockchain used to facilitate cross border payments must be reliable and capable of managing the billions of transactions required securely.
EURC functions as a digital asset on the Stellar blockchain. Stellar was expressly built for the purpose of storing and moving money.
USDC which is one of the largest stablecoins by marketcap is issued on the Stellar blockchain.
Stellar - an open network for money

Trust

The regulatory framework within which the issuer of a stablecoin operates is extremely important in order to adhere to the highest level of compliance on the identification of users, the prevention of money laundering, the prevention of the financing of terrorism and any other illegal or criminal activity.
MYKOBO as the issuer of EURC will obtain and maintain the necessary licenses and registrations to lawfully issue and redeem EURC.

Speed

The speed of cross border payments vary depending on the method used. A typical cross border payment by a bank could take up to 5 days while an MTO could take up to 3 days. An efficient MTO could complete a cross border payment within a day.
A cross border payment powered by EURC will take seconds to complete.

Affordable

Some banks and MTOs will manipulate the exchange rate in addition to charging excessively high transaction fees.
A cross border payment powered by EURC will always use the mid market exchange rate.
In addition the transaction fee are much lower than those offered by banks and MTOs.

Liquid

The supply of a stablecoin in circulation as well as the ease with which the stablecoin can be obtained or redeemed are critical to it's success.
EURC can always be redeemed 1:1 with the Euro directly on MYKOBO platform or by trading with other digital assets on exchanges that list the stablecoin allowing EURC to be seamlessly accessed and traded.
The partners who operate exchanges where EURC can be obtained are detailed in the partners section.
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Outline
Transparent
Stable
Secure
Trust
Speed
Affordable
Liquid