Membrane Finance Launched First Euro-backed Stablecoin

  • Membrane Finance has developed a Euro-backed stablecoin with full reserves.
  • The company is recognized by the Finnish Financial Supervisory Authority (Fin-FSA)
  • EUROe currency is the first and only crypto stablecoin to be governed by EU regulations.

According to a blog post published, Membrane Finance has developed a Euro-backed stablecoin with full reserves. The company, which is recognized by the Finnish Financial Supervisory Authority (Fin-FSA), claims that the new EUROe currency is the first and only crypto stablecoin to be governed by EU regulations.

Read CRYPTONEWSLAND on Google News google news

 Juha Viitala, CEO and Co-founder of Membrane Finance explained,

Launching a truly regulated EUR-based stablecoin is massive news for both us and the wider European cryptocurrency market and community. We want to bring decentralized finance to the masses and make it as easy as possible for Europeans to use a currency they trust and know.

He added,

This launch is the result of two years of hard work to build the most robust regulatory-compliant European payment systems that allow you to leverage innovation in decentralized finance and other emerging technologies.

Each EUROe token is supported by a minimum of one Euro in fiat currency. At least one fiat Euro exists for each EUROe issued at a European financial institution or bank that is ring-fenced from Membrane Finance. In contrast to the exorbitant costs and sluggish speeds of traditional financing, the company thinks its digital asset will enable near-immediate, near-free payments.

Viitala explained,

Stablecoins are an essential part of the transition towards blockchain-based money infrastructure, and Europeans deserve to have a full-reserve euro stablecoin from the EU and regulated by an EU-based financial authority. EUROe hopefully brings more regular people to DeFi, who were previously unable to or worried about the volatility of cryptocurrencies.

In other news, Pick N Pay Embraces Bitcoin at 1,500 Stores Nationwide. Among the stores participating in the launch are PnP Express and Pick n Pay Clothing. The ability to pay with Bitcoin wallets at Pick n Pay locations underlines the company’s commitment to making consumers’ shopping experiences as convenient and stress-free as possible.

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

retik-new-banner-hor

related posts