On August 16th, according to DL News, the collapse of Swiss bank FlowBank worth $781 million is having a ripple effect on the cryptocurrency industry and threatening the existence of stablecoin AEUR. This is because Anchored Coins AG, the Swiss company that issued the euro-pegged stablecoin AEUR, deposited part of its reserves of euro stablecoins worth $63 million in the troubled bank. According to a statement on the company's website, the company has suspended the issuance and redemption of its tokens until further notice. The company has also stopped accepting new customers.
Previously, on June 13, Swiss regulators shut down cryptocurrency-related bank FlowBank and initiated bankruptcy proceedings.
Due to the collapse of Swiss bank FlowBank, the issuance and redemption of the euro stablecoin AEUR has been suspended
2024-08-16 00:16:04
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