Reference · inactive
Inactive and wind-down euro stablecoins
Euro stablecoins that are winding down, have been delisted, or are no longer actively issued. Includes reason, current redemption options, and timeline where publicly disclosed.
Lifecycle records
14
4 winding-down · 10 inactive / discontinued
Nearest open redemption deadline
Mar 2027
EURA · app.angle.money (EURT already closed Nov 2025)
Primary cause
MiCA
EU regulation driving market exit
Why we track inactive coins. Understanding which euro stablecoins have wound down — and why — is as important as tracking active ones. Wind-downs reveal the regulatory and commercial pressures shaping the market. MiCA enforcement is the primary driver: issuers without EU EMI licenses are exiting the EEA market. This page tracks wind-down status, redemption mechanics, and verified timelines.
Winding down / redemption-only
Still redeemable, economically active, or not conclusively shut down — these also remain in the main ranking.4 records
EURS · STASIS EURSApparent shutdown| Issuer | STASIS |
| Legal entity | STSS (Malta) Limited |
| Jurisdiction | Malta |
| Regulator | Maltese VFA white-paper registration (pre-MiCA). No EMI authorisation or MiCA EMT issuer status was identified. |
| Chains | Ethereum, Polygon, Arbitrum, Algorand, Stellar, XRPL, XDC |
| Backing | Historically 1:1 backed by liquid financial instruments per the issuer transparency page (BDO Malta audits). Reserve treatment for the remaining supply after the treasury burn was not publicly disclosed. |
Wind-down reason
On 19 June 2026 the address Etherscan labels as the STASIS EURS Treasury burned 118,218,784.36 EURS on Ethereum — about 95.24% of that chain’s supply — and founder Gregory Klumov marked EURS “RIP.” The STASIS website subsequently returned HTTP 503. STASIS had said in May 2024 that the necessary application was submitted and suspended new issuance from 1 July 2024 pending approval, but no EMI authorisation or MiCA-compliant EMT issuer status was identified. No formal legal dissolution or orderly wind-down announcement has been identified, so this is an apparent shutdown rather than a confirmed legal closure.
Redemption
No remaining-holder redemption instructions were identified. Approximately 5.91 million EURS remained on Ethereum after the transaction; additional bridged or network-specific representations may require separate reconciliation. The position of remaining holders is unresolved on the public record.
Key events
2024-05
On the Aave governance forum the STASIS team said all relevant regulators had been notified and the necessary EMT-licence application had been submitted; new issuance was reportedly suspended from 1 July 2024 pending approval. Company disclosure, not an independent confirmation.· STASIS (company disclosure)
2026-06-19
The STASIS EURS Treasury address burned 118,218,784.36 EURS on Ethereum (~95.24% of that chain’s supply); founder Gregory Klumov linked the transaction with a “RIP” note. The STASIS website subsequently returned HTTP 503.· Gregory Klumov (STASIS) / Etherscan
EUROe · EUROe (Membrane Finance / Paxos)Redemption-only| Issuer | Membrane Finance / Paxos |
| Legal entity | Paxos Issuance Europe Oy (formerly Membrane Finance Oy) |
| Jurisdiction | Finland (EU) |
| Regulator | FIN-FSA — authorised EMI; EUROe EMT white paper notified 29 Jun 2024 (ESMA interim MiCA register) |
| Chains | Ethereum, Polygon, Avalanche, Optimism |
| Backing | 1:1 EUR e-money per the issuer’s MiCA EMT white paper; reserves historically at EU/EEA credit institutions |
Wind-down reason
Paxos acquired Membrane Finance (completed 4 February 2025) and decommissioned the EUROe product, retaining the Finnish EMI licence for its other EU products. The Paxos notice (published 11 June 2026) places EUROe in Redemption-Only Mode: no new minting or trading.
Redemption
Redeemable 1:1 for EUR via SEPA transfer after KYC, per the Paxos notice. No deadline has been published. euroe.com redirects to the Paxos redemption page.
Redemption page ↗Key events
2025-02-04
Paxos completed the acquisition of the Finnish e-money institution Membrane Finance Oy, issuer of EUROe; the entity was renamed Paxos Issuance Europe Oy.· Paxos
2026-06-11
Paxos notice: EUROe is decommissioned — no new minting or trading; 1:1 EUR redemption via SEPA after KYC.· Paxos
AEUR · Anchored EuroWind-down| Issuer | Anchored Coins AG |
| Legal entity | Anchored Coins AG |
| Jurisdiction | Switzerland |
| Regulator | Swiss SRO (non-EMI, non-MiCA) |
| Chains | Ethereum, BNB Chain |
| Backing | 1:1 EUR reserves at Swissquote Bank SA (per issuer homepage at time of wind-down announcement) |
Wind-down reason
MiCA non-compliance — Anchored Coins AG is a Swiss entity and is not an EU-licensed Electronic Money Institution. It announced it will not issue new AEUR tokens and is withdrawing from the stablecoin business in an orderly manner.
Redemption
Redemption accepted only for amounts exceeding €250,000. Institutional holders only. Consult anchoredcoins.com for current redemption mechanics.
Redemption page ↗Key events
2025-03-31
Binance delists AEUR for EEA users
Binance delisted AEUR and other non-MiCA-compliant stablecoins for EEA users as part of its MiCA-compliance transition.· The Block
EURA · EURA (Angle Protocol)Wind-down| Issuer | Angle Protocol (Angle DAO) |
| Legal entity | No licensed legal entity — decentralized protocol governed via Angle DAO |
| Jurisdiction | Decentralized protocol |
| Regulator | None (decentralized) |
| Chains | Ethereum, Polygon, Arbitrum, Optimism, Base, Gnosis, Celo, BNB Chain |
| Backing | Over-collateralized with crypto (ETH, USDC, wBTC) + Transmuter PSM — decentralized protocol collateral |
Wind-down reason
Angle Protocol announced an orderly wind-down of the EURA stablecoin. Every EURA is redeemable 1:1 via app.angle.money during the wind-down period. The protocol stated "Redeem before March 1, 2027."
Redemption· Deadline: March 1, 2027
Redeemable 1:1 via app.angle.money. Deadline: March 1, 2027. No minimum. No KYC required (protocol-level, permissionless).
Redemption page ↗Key events
2026-03-01
Angle Protocol announced the wind-down. EURA redeemable 1:1 via app.angle.money until March 2027.· Angle Labs
Inactive / discontinued / failed
Removed from the main ranking, aggregate and recurring collection — route, factsheet and stored history preserved.10 records
EURT · Euro TetherDiscontinued| Issuer | Tether |
| Legal entity | Tether Limited |
| Jurisdiction | Hong Kong (non-EU) |
| Regulator | None (never an EU MiCA EMT) |
| Chains | Ethereum, Polygon |
| Backing | Historically 1:1 EUR within Tether’s consolidated group reserves reporting; no standalone EURT attestation was published |
Wind-down reason
Tether announced the wind-down of EURT on 27 November 2024, citing the EU regulatory environment (MiCA) as part of a community-driven product strategy. New issuance had effectively stopped since 2022. Rather than issuing a MiCA-compliant euro token itself, Tether took strategic stakes in EU-licensed euro issuers (Quantoz EURQ, StablR EURR).
Redemption· Deadline: November 27, 2025 (passed)
Redemptions CLOSED. Per Tether’s closing update, redemption support ended on 27 November 2025 across all chains. Tokens remaining on-chain are no longer redeemable with the issuer.
Redemption page ↗Key events
2024-11-27
Tether announced it would wind down EURT, citing the EU regulatory environment, and set a 12-month redemption window.· Tether
2025-11-27
Per Tether’s closing update, redemption support for EURT ceased; remaining on-chain tokens are no longer redeemable with the issuer.· Tether
EURB · Euro Stable TokenDiscontinued| Issuer | Bankhaus von der Heydt |
| Legal entity | Bankhaus von der Heydt GmbH & Co. KG (Bitbond technology) |
| Jurisdiction | Germany |
| Regulator | None — a pre-MiCA, bank-issued settlement token; not a MiCA EMT |
| Chains | Stellar |
| Backing | Bank-issued euro settlement token; reserve details not publicly confirmed (pre-MiCA). |
Wind-down reason
A historical, bank-issued euro settlement token launched on Stellar on 9 December 2020 by Bankhaus von der Heydt using Bitbond technology. It was a closed, pre-MiCA settlement instrument rather than a publicly traded retail token, and there is no current issuance. The Stellar issuer account and asset id were never publicly confirmed, so no supply is collected.
Redemption
No public redemption mechanism was identified — this was a closed bank-settlement instrument, not a retail-redeemable e-money product. Reserve details were never publicly confirmed.
Key events
2020-12-09
A German private bank issued a euro-denominated settlement token on Stellar using Bitbond tokenization technology — an early, institution-facing euro stablecoin.· Bitbond
EURL · Lugh EUR-LDiscontinued| Issuer | Lugh |
| Legal entity | Lugh (DASP; issuer acquired by Tempo France, 2024) |
| Jurisdiction | France |
| Regulator | French DASP registration (pre-MiCA); not a MiCA EMT |
| Chains | Tezos, Ethereum |
| Backing | Fiat-backed euro e-money (Groupe Casino origin); reserves historically at EU credit institutions. |
Wind-down reason
A fiat-backed euro e-money token (Groupe Casino origin) launched on Tezos (FA2) in 2021 and later Ethereum. It was discontinued ahead of MiCA: issuance halted and redemption was guaranteed only through 30 August 2024. The DASP issuer was acquired by Tempo France in 2024.
Redemption· Deadline: August 30, 2024 (passed)
Redemption was guaranteed only through 30 August 2024, which has passed. No issuer redemption is available now; only residual on-chain dust may remain.
Key events
2021
A Groupe Casino-originated euro e-money token, later also deployed on Ethereum.· Lugh
2024-08-30
Issuance had halted and the issuer guaranteed redemption only through this date; the DASP issuer was acquired by Tempo France in 2024.· Lugh
EEUR · e-Money EURDiscontinued| Issuer | e-Money |
| Legal entity | e-Money A/S (Denmark) |
| Jurisdiction | Denmark |
| Regulator | None (pre-MiCA); not a MiCA EMT |
| Chains | e-Money (Cosmos) |
| Backing | Reserve-backed, interest-bearing euro (Cosmos); reserves historically at EU credit institutions. |
Wind-down reason
A reserve-backed, interest-bearing euro token on the e-Money (Cosmos) chain — the first stablecoin on Osmosis. It was discontinued: issuance ceased on 9 January 2023, redemptions ran to 6 March 2023, and the buyback window ended on 9 April 2024.
Redemption· Deadline: April 9, 2024 (buyback ended)
The buyback window closed on 9 April 2024. No redemption is available now. The e-Money (Cosmos) chain is not supported by our collectors.
Key events
2023-01-09
The issuer stopped minting new EEUR; redemptions continued through 6 March 2023.· e-Money
2024-04-09
The final buyback window for outstanding EEUR closed; the product is fully wound down.· e-Money
ibEUR · Iron Bank EURAbandoned| Issuer | Fixed Forex |
| Legal entity | No legal entity — decentralized protocol (Fixed Forex / Iron Bank) |
| Jurisdiction | Decentralized protocol |
| Regulator | None (decentralized synthetic); not a MiCA EMT |
| Chains | Ethereum |
| Backing | Decentralized crypto-collateralized synthetic (Fixed Forex); no fiat reserve; severely depegged. |
Wind-down reason
A decentralized synthetic euro from the Fixed Forex / Iron Bank system, with no central issuer or legal entity. The protocol is abandoned and the token is severely depegged (about $0.004), so its ~3,000,000 nominal on-chain supply is not a reliable euro value and it no longer represents a functioning euro liability.
Redemption
No redemption mechanism exists (decentralized and abandoned). Residual on-chain balances are preserved, not forced to zero, but there is no reliable reserve or euro claim.
Key events
2026-07-29
Ethereum contract 0x96e6…aae27 verified with ~3,000,000 nominal supply across 562 holders; the market price sits near $0.004, so the nominal figure is not a euro value.· On-chain (Blockscout)
EURX · eToroX EuroDiscontinued| Issuer | eToroX |
| Legal entity | eToroX Ltd (Gibraltar; GFSC DLT licence) |
| Jurisdiction | Gibraltar |
| Regulator | Gibraltar Financial Services Commission (DLT licence); not a MiCA EMT |
| Chains | Ethereum |
| Backing | Historical fiat-backed exchange stablecoin (eToroX); no current attestation. |
Wind-down reason
The euro member of the eToroX exchange native fiat-stablecoin suite (created 25 February 2019). The eToroX exchange wound down around 2024 as the eToro group exited most crypto activity (including a 2024 US SEC settlement), so issuer redemption is defunct. The round ~1,000,000 residual is a static pre-mint stranded after wind-down; the last on-chain transfer was 3 June 2023.
Redemption
The exchange wound down and issuer redemption is no longer available. The residual ~1,000,000 EURX is stranded pre-mint; the token has been dormant on-chain since June 2023.
Key events
2019-02-25
Issued on Ethereum as part of the eToroX exchange native fiat-stablecoin suite under a Gibraltar DLT licence.· On-chain / eToroX
2023-06-03
The most recent EURX token transfer; the token has shown no activity since, consistent with the exchange wind-down.· On-chain (Blockscout)
WSE · White Standard EuroAbandoned| Issuer | The White Company |
| Legal entity | The White Company (White Standard suite) |
| Jurisdiction | Not disclosed |
| Regulator | None; not a MiCA EMT |
| Chains | Stellar |
| Backing | Historical fiat-backed Stellar euro (White Standard suite); no current attestation. |
Wind-down reason
A euro token from The White Company 2018 White Standard Stellar stablecoin suite (alongside the White Standard Dollar, WSGBP and WSP). Activity withered and off-chain redemption is defunct; only a dust residual (~1.37 WSE) remains on Horizon under issuer GDSVWEA7…, created 16 August 2018.
Redemption
Off-chain redemption is defunct. Only a dust residual remains; the asset is effectively abandoned.
Key events
2018-08-16
Part of The White Company White Standard suite of Stellar fiat tokens; the companion White Standard Dollar (WSD) remains the larger asset.· Stellar (Horizon)
EUT · TerraEUR (EUT)Failed| Issuer | Terraform Labs |
| Legal entity | Terraform Labs |
| Jurisdiction | Terra ecosystem |
| Regulator | None (algorithmic stablecoin); not a MiCA EMT |
| Chains | Terra Classic |
| Backing | Algorithmic (seigniorage vs LUNA); no reserve. Collapsed May 2022; verified terminal supply 0. |
Wind-down reason
The euro member of the Terra family of algorithmic stablecoins, maintained by mint-burn seigniorage against LUNA (a sister asset to UST and KRT). It de-pegged and collapsed in May 2022; the chain forked and rebranded to Terra Classic on 28 May 2022. On-chain supply of the native denom is a verified zero.
Redemption· Deadline: May 2022 (collapse)
No backing or redemption — the algorithmic mechanism failed in May 2022. The native denom current supply is a verified zero.
Key events
2022-05
The algorithmic peg mechanism failed across the Terra stablecoin family; the chain forked to Terra Classic on 28 May 2022.· Richmond Fed (economic brief)
2026-07-30
The Terra Classic LCD reports the native bank denom ueut with a current supply of 0 — fully burned/redeemed to zero.· Terra Classic LCD
eEUR · ARYZE eEURDormant| Issuer | ARYZE |
| Legal entity | ARYZE ApS (Denmark; CVR 38895052) |
| Jurisdiction | Denmark |
| Regulator | Not a MiCA e-money token (absent from the ESMA register) |
| Chains | Ethereum, Polygon |
| Backing | Marketed as full-reserve 1:1 EUR; no current dated attestation (treated as unverified). |
Wind-down reason
A euro token from ARYZE ApS (distinct from the historical e-Money A/S eEUR), issued as native per-chain ERC-20 on Ethereum and Polygon. It is near-dormant: the Ethereum leg has been dormant since 31 January 2025 and the Polygon leg last moved on 21 April 2026 — no meaningful activity within 90 days. ARYZE the company remains active but has repositioned to providing stablecoin infrastructure-as-a-service for third-party licensed issuers (a €3m pre-Series A in May 2026) rather than operating its own eEUR; no current dated reserve attestation was located.
Redemption
No current issuance or redemption channel; the issuer has pivoted to a payments product. The advertised full-reserve backing is unverified (no current dated attestation).
Key events
2025-01-31
The most recent Ethereum eEUR transfer; the ~272-token Ethereum balance has been static since.· On-chain (Blockscout)
2026-04-21
The Polygon leg (~16,000 eEUR) last moved on this date, outside the 90-day activity window used for the lifecycle review.· On-chain (Blockscout)
2026-05-19
Pre-Series A to provide stablecoin issuance and fiat on/off-ramp rails for third-party licensed issuers, rather than operating its own stablecoin product; the eEUR token is not mentioned. The company is active, but its own eEUR is not a current product.· fintech.global
EURT · Tempo EURTDiscontinued| Issuer | Tempo France |
| Legal entity | Tempo France SAS (ACPR-registered payment institution) |
| Jurisdiction | France |
| Regulator | ACPR-registered payment institution (pre-MiCA); not a MiCA EMT |
| Chains | Stellar |
| Backing | Historical fiat-backed Stellar euro (Tempo France); no current attestation or redemption. |
Wind-down reason
A legacy euro token issued on Stellar by Tempo France (an ACPR-registered payment institution) around 2017. The issuer token infrastructure is defunct (eurt.exchange offline) and there is no redemption; only residual supply (~1.28M across ~9,467 trustlines) remains, still moving peer-to-peer among holders. It predates MiCA and is not an EU e-money token. Its EURT code collides with Tether EURT but it is a distinct Stellar asset (issuer GAP5LETO…).
Redemption
No issuer redemption — the Tempo token infrastructure is defunct. Residual balances persist on Stellar but cannot be redeemed with the issuer.
Key events
2017
A euro-denominated token from Tempo France, an ACPR-registered payment institution, on the Stellar network.· Stellar (Horizon)
2026-08-03
The Tempo token infrastructure is offline with no redemption; residual EURT (~1.28M across ~9,467 trustlines) still moves peer-to-peer among holders — the issuer account last recorded a payment on 9 July 2026 — but the product is discontinued.· On-chain (Horizon)
MiCA and the EUR stablecoin market
The EU Markets in Crypto-Assets Regulation (MiCA), effective June 2024, requires euro stablecoin issuers serving EEA users to hold an Electronic Money Institution (EMI) license or equivalent banking authorization from an EEA regulator. Issuers without such authorization must exit the EEA market.
This page has two parts. The winding-down coins (EURS, EUROe, AEUR, EURA) still have meaningful supply, transfers, or an open redemption route, so they remain in the main ranking while also being documented here. The inactive coins (EURT, EURB, EURL, EEUR, TerraEUR, eToroX EURX, ibEUR, ARYZE eEUR, WSE, Tempo EURT) are discontinued, failed, or abandoned with no functioning redemption or market — verified by on-chain last-transfer reads, verified-zero supply, or published redemption-end dates — and have been removed from the ranking, the headline aggregate, and recurring collection.
Major exchanges including Binance began delisting non-MiCA-compliant euro stablecoins for EEA users in early 2025. This is an ongoing market transition, not an isolated event.
Data sourced from issuer disclosures, official wind-down announcements, and exchange delisting notices. Redemption mechanics and deadlines change — verify with the issuer before acting. Methodology → · MiCA status overview → · Active stablecoins →