CREAM Finance becomes the first to support Tether’s EURO-pegged stablecoin as we are reading more in our latest Tether news today.
Tether is the company behind the biggest stablecoin by means of total market cap, announced that CREAM Finance becomes the first Defi protocol that supports Tether’s EURO stablecoin. As per the recent release, CREAM Finance is a well-known Defi protocol that became the first to integrate the EURt stabelcoin into the lending platform. All users on the platform will being able to access EURt for lending and borrowing but they can also do that by using Tether’s USDT.
CREAM Finance will be the first DeFi platform to offer EURt to users in the DeFi space and users on the platform will obtain access to the coin for lending and borrowing markets amid the increasing demand for euro pegged stablecoin in the DeFi space. Users can obtain access to TEther tokens pegged to USD on the platform. The EURt is a stablecoin that tracks the price of the Euro.
As recently reported, The popular DeFi protocol CREAM Finance was exploited which eventually resulted in the token price dropping by 30%. The protocol is one of the more popular projects in the field for Decentralized Finance and it was exploited today with the price of the token crashing a few minutes after the news broke out. The Malta-based trading platform decided to list the CREAM/BNB pair as well as the CREAM/BUSD trading pair according to the announcement. This enables the users to deposit and trade their CREAM tokens against Binance Coin and the US-regulated stablecoin BUSD. The trading pair surged by about 54% in just three hours of trading after the announcement was made. The pair hit an intraday high of $120 and the gains also came after the prolonged price action on the market. CREAM shoots up after the weekly rally of the lows at $0.001 to as high as $279. The upside move took cues from the market craze in the DeFi space.
Tether has been reluctant to hand over data to regulators but the controversial platform will release the audits soon. This is the third biggest digital asset by market cap that we are talking about and the general counsel says that it will release the audits within months but today, Stu Hoegner, said that the process can be expedited.
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