Hashing out the details

TubachNicholas

I'm confused about the way the system works from A-Z. Here's how I understand it, but I'm sure some of my understanding is wrong.
Get Lumens -> Register to the Stellar network with your lumens wallet as an individual or financial institution -> buy tokens, i.e. buy a euro token for the value of a Euro (according to whatever the current exchange rate is for national currency) -> at this point, you can send your Euro token to someone in Europe who is also on the Stellar platform -> that person can sell their Euro token for the value of a Euro (to anyone on the platform who wants to buy it) -> where is that money now? In a Stellar wallet? Is it kept in lumens, or does the stellar wallet support multiple currencies as a guaranteed digital balance? How does it get transferred to the bank?

Afolabi

Once the Receiver receive the digital euro and sell on the blockchain to an anchor, the equivalent of the digital euro is then transfer to the receiver fiat account. The xlm you use during your conversion to euro still reside with the anchor(which you must have bought with real money). You need to understand the concept of anchor. Your digital euro is nothing but an IOU, a pledge the anchor made to redeem your euro at 1:1 ration at anytime.