---
title: "Usual EUR (EUR0) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/eur0-usual/"
description: "Build-time stablecoin profile for Usual EUR (EUR0). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Usual EUR (EUR0)

**Peg:** Euro

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

EUR0 is Usual's euro stablecoin minted from tokenized Eurozone T-bill collateral such as Spiko's EUTBL; centralized issuer rails. EUR0 is Usual's euro-denominated stable asset, admitted through CoinGecko market data and an Ethereum contract. The reserve thesis points to Spiko's euTBL tokenized {{term:treasury}}Treasury{{/term}} exposure rather than a simple euro bank-deposit account, making EUR0 an {{term:rwa}}RWA{{/term}}-backed dependency token with centralized issuer rails. The supply is still small, but it gives the dashboard a useful euro reference from the Usual ecosystem. {{term:redemption}}Redemption{{/term}} and backstop quality remain intentionally conservative until Usual-specific terms are reviewed. Spiko EUTBL is a tokenized {{term:money-market-fund}}money-market{{/term}}-style euro T-bill fund.

## 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

| Country | Regulator | License |
| --- | --- | --- |
| France | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x3c89cd1884e7bef73ca3ef08d2ef6ec338fd8e49` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/eur0-usual.