The EURZ is a euro-indexed stablecoin developed by our partner company, DIGITAL BROKER, and operates on our proprietary blockchain, MARIPOSA. It acts as a substitute for the euro on our platform, offering considerable benefits. Euro funds are held on a dedicated bank account managed by our payment service provider partner. Your euro deposits are automatically converted into EURZ with no additional fees and can be transferred instantly.
By using EURZ for your transactions, you eliminate the need to report exchanges or trades between euros and digital assets on form 2086. Withdrawals in EURZ are bought back by DIGITAL BROKER in euros and deposited into your bank account. It's only at this stage that you need to make a declaration. Note that EURZ cannot be withdrawn to an external service or used as a payment method. In summary, EURZ simplifies your tax declaration: only the withdrawal of EURZ to your bank account needs to be reported.
Caution: Digital assets are financial products that carry risks, including liquidity and capital loss.