xEuro Whitepaper

xEuro implements ‘stable token’ on the Ethereum blockchain. This is technically cryptocurrency, but 100% backed with real fiat money on bank account with possibility for the user to exchange it to euro and vice versa at any time. The rate is always 1:1, but service takes commissions for exchanges EUR <> xEUR. In short, it replaces services like SWIFT/SEPA or Paypal with blockchain technology, which makes possible not only to have a much more secure and much cheaper system, but a system with incomparably great capabilities due to possibility to use smart contracts.
Token implements ERC20 standard for Ethereum token, and provides a convenient interface for using it in other smart contracts (like transferAndCall function, overloaded approve function etc. )
The core goal of the service is to guarantee liquidity of the tokens providing real and fast exchange to fiat (in contrast to competing services like tether )
xEuro can be seen as a gate between fiat-based banking system and cryptocurrencies because it can easily be used in smart contracts for exchange.

xeuro Website
xEuro Whitepaper