Usual EUR (EUR0) stablecoin analytics
Answer First
What is Usual EUR (EUR0)?
EUR0 is Usual's euro stablecoin, minted by depositing eligible RWA collateral such as Spiko's tokenized Eurozone Treasury-bill fund (EUTBL) through Usual's app. The static profile records its Euro peg mechanism as: Users mint EUR0 by depositing eligible euro RWA collateral such as Spiko EUTBL, or indirectly by depositing EURC while a collateral provider supplies the RWA; redemption swaps EUR0 back into the underlying euro collateral through Usual's...
Is EUR0 safe?
EUR0 holds a C Safety Score grade (58/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Usual EUR uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Usual EUR (EUR0) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg Euro.
AI summary / Updated Sep 7, 2026
EUR0 is Usual's euro stablecoin, minted on Ethereum against tokenized Eurozone T-bill collateral, in practice Spiko's EUTBL, through Usual's collateral module, with redemption swapping EUR0 back into that collateral through the dApp. The reserve thesis is a Treasury-bill fund dependency rather than a euro bank-deposit account: on-chain reads show the EUR0 collateral treasury holding EUTBL and nothing else, with supply reconciled against it, so EUR0 is an RWA-backed dependency token whose backing rests on Spiko's...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- Euro-denominated collateral tokens, primarily Spiko EUTBL tokenized Eurozone Treasury-bill fund shares, held through Usual's EUR0 collateral module
- Peg Mechanism
- Users mint EUR0 by depositing eligible euro RWA collateral such as Spiko EUTBL, or indirectly by depositing EURC while a collateral provider supplies the RWA; redemption swaps EUR0 back into the underlying euro collateral through Usual's dApp
- Jurisdiction
- France
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Ethereum.
Next Actions
Exact bot target: /subscribe dews,depeg,safety eur0-usual
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
EUR0 quick answers
What is Usual EUR (EUR0)?
EUR0 is Usual's euro stablecoin, minted by depositing eligible RWA collateral such as Spiko's tokenized Eurozone Treasury-bill fund (EUTBL) through Usual's app. The static profile records its Euro peg mechanism as: Users mint EUR0 by depositing eligible euro RWA collateral such as Spiko EUTBL, or indirectly by depositing EURC while a collateral provider supplies the RWA; redemption swaps EUR0 back into the underlying euro collateral through Usual's...
Is EUR0 safe?
EUR0 holds a C Safety Score grade (58/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Usual EUR uses a CeFi-Dependent governance model and Real-World Asset Backed backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs EUR0?
Pharos classifies EUR0 backing as Real-World Asset Backed. Collateral, per the static profile: Euro-denominated collateral tokens, primarily Spiko EUTBL tokenized Eurozone Treasury-bill fund shares, held through Usual's EUR0 collateral module Reserve evidence: live reserve feed configured.
Can EUR0 be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for EUR0, when applicable, appear in the dossier below.
