Euro Tether
EURT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
EURT (Euro Tether) is an officially discontinued and deprecated euro-pegged stablecoin issued by Tether Operations Limited. In late 2024, Tether announced the phase-out of EURT across Ethereum, Solana, and Tron due to non-compliance with the European Union's Markets in Crypto-Assets Regulation (MiCA), establishing final redemption deadlines in late 2025 and shifting its euro strategy to Quantoz-issued tokens (EURQ). Consequently, EURT has experienced a complete breakdown in market relevance, liquidity collapse, and extreme de-pegging in secondary markets. Smart contract governance remains fully centralized under Tether's corporate control without community governance, and reserve transparency relies on point-in-time attestations rather than complete third-party audits. Active Development was excluded from the weighted average calculation due to insufficient data (-1.0) arising from the asset's discontinued status.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Euro Tether (EURT)
Euro Tether (EURT) is a deprecated euro-pegged stablecoin issued by Tether Operations Limited that is currently being wound down following a discontinuation announcement in late 2024. Launched in 2016 and deployed across blockchains including Ethereum, Solana, and Tron, EURT was created to provide digital asset exposure to the euro on a 1:1 basis through centralized fiat collateralization. Following the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation, Tether announced the phase-out of EURT due to non-compliance with the new regulatory framework, directing users to redeem their tokens and shifting its euro-stablecoin focus toward Quantoz Payments' MiCA-compliant EURQ.
The smart contract architecture of EURT is fully centralized, utilizing an upgradable proxy contract where Tether retains unilateral minting, burning, and administrative control. Governance is handled exclusively by Tether Operations Limited corporate leadership, which includes public executives such as Paolo Ardoino and Giancarlo Devasini, with no on-chain decentralized governance or token-specific community structures. The asset's reserve backing has historically relied on point-in-time quarterly attestations (such as from BDO Italia) rather than comprehensive, unrestricted third-party financial audits, a practice that has drawn scrutiny from financial and regulatory commentators.
Following its discontinuation notice, EURT experienced severe market degradation, exchange delistings (including by Kraken in June 2025), and a breakdown of secondary market liquidity. While redemptions were established by the issuer through late November 2025, secondary market trading suffered an extreme depeg, with the asset's market price collapsing to approximately $0.05 to $0.055 and trading volume declining to negligible levels.