Anchored Euro AEUR
the digital euro built to never move, that learned how hard standing still can be
🎭 a buttoned-up Swiss banker token, clutching a euro coin and repeating one vow while its vault keys keep changing hands
💬 “One token, one euro. That is the whole job, and I take it seriously. I keep your euros in a real bank and hand you a coin you can move on-chain. The trouble is, banks are not always as steady as the vow I make.”
- What it is: a euro stablecoin meant to be worth 1 EUR, backed 1:1 by euros in a bank.
- Who made it: Anchored Coins AG, a Swiss firm in Zug, set up in 2022.
- Where it lives: not its own chain. It is a token on Ethereum (ERC-20) and BNB Chain (BEP-20).
- The twist: a 2023 price spike, a 2024 reserve-bank failure, and now an orderly wind-down under EU rules.
📖 The Story
2022. A Swiss company called Anchored Coins AG set up shop in Zug with a plain idea. Almost every stablecoin people traded was pegged to the US dollar, yet plenty of Europe wanted to hold and move money in euros. So AEUR was born to be the steady one: take in euros, hold them in a bank, and hand back a token worth exactly one euro. No drama, no swings. That was the promise.
December 2023. Days after the exchange Binance listed it, the steady coin did the one thing it was built never to do. AEUR rocketed about 200% to roughly $3.25, far above its one-euro target. Binance paused trading and explained that some traders had not realized it was a stablecoin and were buying it like a coin that should go up. For a token whose entire identity is staying flat, a spike is not a victory. It is a malfunction.
June 2024. The real test came from the bank, not the market. FlowBank SA, a Swiss bank that helped hold AEUR's reserves, collapsed with around $781M in assets. Anchored Coins paused withdrawals on the roughly $63M of AEUR in circulation and stopped taking new customers. The team later said the reserves were fully held 1:1 at a different bank, Swissquote Bank SA, away from the FlowBank wreckage. The vow held, but the scare was real.
Then the rulebook closed the chapter. The EU's MiCAR law says a euro stablecoin must be issued by an EU-licensed firm. As a Swiss company, Anchored Coins AG chose to step back rather than re-license, stop minting new AEUR, and wind the project down in an orderly way. The banker is quietly closing the ledger, one euro at a time.
📊 Stats
These bands are our editorial read of the coin's character, not live market data.
🧩 How it works
AEUR is simpler than coins that mine or run their own network. There is no race to win a block and no fresh coins minted by a rig. Its steadiness comes from one thing: real euros sitting in a bank. You give the issuer a euro, it creates one AEUR. You hand back an AEUR, it burns the token and returns your euro. Because each token is matched 1-for-1 with money in reserve, the coin should always be worth about a euro.
It does not have its own blockchain. AEUR is a token that rides on top of Ethereum (as an ERC-20 token) and BNB Chain (as a BEP-20 token), borrowing their security instead of building its own.
🌗 Light & Shadow
- A rare euro-denominated stablecoin in a world where almost everything is pegged to the dollar
- Issued by a Swiss firm under Swiss financial rules, aiming for a compliant, by-the-book reputation
- When its reserve bank failed, the team kept the 1:1 backing intact by holding euros at another bank (Swissquote Bank SA)
- It is only as safe as its bank. The June 2024 FlowBank collapse forced a pause on withdrawals and a scare over redeemability
- The 2023 spike to ~$3.25 showed even a stablecoin can break its peg on a thin, confused market
- It is winding down. No new AEUR is being minted, and the supply has shrunk sharply (from tens of millions of tokens toward a few million)
🧬 Evolution lineage
AEUR is not a fork of anything. It is a standalone euro stablecoin, born from the same 1:1 fiat-reserve idea as the big dollar stablecoins, just denominated in euros.
Its closest siblings are other euro stablecoins, such as EURS (Stasis), EURC (Circle), EURT (Tether), EURI and EURA/agEUR. AEUR is one of the smaller, later, Swiss-issued members of that family.
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❓ FAQ
- What is Anchored Euro (AEUR)?
- A euro-pegged stablecoin from the Swiss company Anchored Coins AG, set up in Zug in 2022. Each AEUR is meant to be worth about 1 euro, backed 1:1 by real euros kept in a bank. It is not its own blockchain, just a token living on Ethereum and BNB Chain.
- Why did AEUR jump to around $3.25 in 2023?
- In December 2023, days after Binance listed it, AEUR shot up about 200% to roughly $3.25, far above its 1-euro target. Binance said some traders did not realize it was a stablecoin and paused trading. A stablecoin is supposed to stay flat, so that spike was a glitch, not a win.
- Is AEUR safe? What happened with the bank?
- In June 2024 a Swiss reserve-partner bank, FlowBank SA, collapsed. Anchored Coins paused withdrawals on the then ~$63M of AEUR and stopped taking new customers. The team later said the reserves are held fully 1:1 at Swissquote Bank SA, separate from the FlowBank case. The lesson: a stablecoin is only as safe as the bank holding its money.
- Can I still buy AEUR?
- It is winding down. Under EU MiCAR rules, euro stablecoins must be issued by an EU-licensed firm, and as a Swiss company Anchored Coins AG is leaving the stablecoin business and will not mint new AEUR. The supply has shrunk a lot as the project closes out. (Information only, not an investment recommendation.)
⚠️ Not investment advice. All figures are for information only