EURe is collateralized by euro deposits and is fully integrated with the SEPA (Single Euro Payments Area) framework, allowing instant euro transfers between both on-chain and custodial bank accounts.
Monerium has launched EURe, the first euro-backed stablecoin in the Cosmos ecosystem, on the Noble blockchain.
EURe is backed by euro deposits and fully integrated with the SEPA (Single Euro Payments Area) framework, allowing instant euro transfers between both on-chain and custodial bank accounts. The euro backing and SEPA integration ensure that EURe provides high liquidity and stability in blockchain transactions.
Monerium, the issuing company, is known for its compliance with European MiCA (Markets in Crypto-Assets) regulations and has been issuing electronic money on blockchains since 2019. Its experience in regulating and issuing fiat currencies on blockchain has been instrumental in creating EURe.
The Noble blockchain, where EURe is launched, is designed specifically for the issuance and transfer of stablecoins and real-world assets between sovereign blockchains. Noble serves as the native asset issuance network for Circle’s USDC stablecoin within the Cosmos ecosystem, which includes over 90 application-specific blockchains like Cosmos Hub, Injective, dYdX Chain, and Celestia.
Together, Monerium and Noble aim to provide simple transfers and high liquidity. Noble has handled $280 million in total assets since its launch in September 2023 and has facilitated transfers totaling over $3 billion using the Inter-Blockchain Communication (IBC) protocol.
The introduction of EURe on Noble is set to enhance liquidity and efficiency in euro transactions within the Cosmos ecosystem. Monerium has also provided a unique IBAN for each self-custodial address on Noble, simplifying transfers between bank accounts and blockchain addresses.
This development will be key in expanding the options available to stablecoin users within the Cosmos ecosystem and aims to set new standards in integrating traditional assets with blockchain technology
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