Waves, a crypto-platform for asset/custom token issuance, transfer, and trading on blockchain, has announced the launch of its flagship Euro gateway.

With the launch, Waves users can move funds onto the platform as Euro-backed token as well as they can use them with all the benefits that blockchain brings. The Waves Euro tokens re offered with the help of a financial arrangement with a fully licensed and compliant gateway partner.

“This is a major step forward for the Waves platform and for the blockchain world in general. Waves users can now trade bitcoin, WAVES and all Waves tokens against an asset that is backed 1:1 by Euro deposits and that can be redeemed for Euros at any time,” Sasha Ivanov, CEO of Waves, commented, as reported by Finextra.

The ‘WEUR’ blockchain tokens, as it is called, is used as a store of value that will allow traders to park funds safely and in a stable medium, without the risk of holding money on a centralized exchange. Also, with the help of the DEX, Waves’ decentralized exchange, Euro-backed tokens can be traded directly against BTC tokens or any other custom tokens that is created on the platform by businesses seeking to utilize Waves’ extensive functionality.

Waves platform plans to deposit EUR 100K with the gateway to make these WEUR tokens available by placing orders against BTC and WAVES on DEX. By doing this, users can start trading against WEUR immediately and to acquire the token without having to deposit funds through the gateway.