We’re excited to announce that Valora now supports Celo Euro (cEUR), a Celo protocol stablecoin pegged to the Euro, in our mobile app. Like most other stablecoins, cEUR provides the benefits of a global digital currency and also protects you against the price volatility that often comes with other cryptocurrencies. Cryptocurrency and blockchain technology should be accessible to everyone, so we’ve made CELO, cUSD, and cEUR all available for you to buy and use on the Valora app. It’s time to make crypto more mobile!
With the Euro posting a lower inflation rate than the US dollar in the past couple of months, attention is shifting to the European Union (EU). That’s because for these government-issued (fiat) currencies, high inflation rates mean you can buy less with your money. This is relevant to crypto since stablecoins are backed by their respective currencies. If the current inflation rates hold, Euro-pegged stablecoins will lose less value than US dollar-pegged stablecoins over time. Vice versa if rates were flipped.
What it all comes down to is that Valora’s support of cEUR opens up more possibilities for your cryptocurrencies. You can receive cUSD in Germany, for example, and then convert it to cEUR. You can watch the inflation rates and their projections, then mix up your cryptocurrency holdings to maintain an advantageous position. Your friend can pay you for a dinner in Amsterdam with cEUR, then you can send it back out of politeness, then they can send it back, then...we think you get it! Plus, with Valora it all happens within seconds -- ever seen crypto move that fast?
People are getting hyped up. “I’m in the Netherlands and we use the Euro, so it’s great to have cEUR available to me” said one user who sent his cousin a birthday present of cEUR via Valora in celebration. Today you can cash in to cEUR in Valora in 17 countries supported by our integrated partner Ramp. We’re working together to increase our services and cash in options around the world!