Telcoin, a leading Web3 platform bridging the worlds of traditional fintech and decentralized finance (DeFi), announced today the launch of digital asset rails in the European Union, starting with Lithuania and extending to the rest of the bloc in the future. This new fiat to USDC on and off ramp enables easy entry into the Telcoin App’s assisted self-custody wallet, connecting users to fast and affordable trades across popular DeFi platforms.
The addition of USDC deposits and withdrawals on the Telcoin App will give customers in Lithuania a safe and intuitive way to trade digital assets with just a few taps of their smartphone. To cash in, users simply input their debit card details and choose how much USDC to deposit into the Telcoin App. Users holding a USDC balance can also withdraw to their bank account in Euros via SEPA transfer. Telcoin expects to add an EUR stablecoin option as well, but is prioritizing USDC given its strong liquidity across DeFi protocols.
“We’re excited to extend digital asset rails to Europe, a region that has taken a progressive approach to digital asset regulation,” says Paul Neuner, Telcoin CEO. “Telcoin strongly believes that the self-custodial nature of DeFi is better for consumers when implemented properly and connected to traditional finance in a regulated manner – in fact, we believe that DeFi has an even greater capacity to satisfy regulatory goals than the traditional financial sector.”