GateHub announced EURGH redemption through SEPA bank payments, but XRP holders must first convert their tokens into the digital currency. On November 8, the direct XRP/EURGH order book contained only one funded offer of 96.80 EURGH for 484 XRP, equivalent to 0.20 EURGH per XRP. Even if each EURGH is worth one euro, the total inventory was below €100, while Kraken displayed a best bid of €1.04544 per XRP. Issuer Dinaro had 55,370.62 EURGH in outstanding obligations on the XRPL, but that figure did not guarantee the availability of liquidity for buying the token with XRP. Tested conversions of XRP into 1,000 EURGH found no route, an account-specific result that did not prove that every possible conversion was unavailable. The SEPA route therefore does not yet, by itself, provide a competitive and widely accessible cash-out option for XRP holders.
Source: Read the original article
