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

 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.

Recommended news:

• USDC Issuer Circle to Launch Euro-Backed Stablecoin EUROC
• Asia-focused multi-currency stablecoin protocol, Bluejay Finance, raises $2.9M in funding
• The European Union Places Strict Crypto Measures on Banks
• Uranium Finance Suffers Over $50 Million from Crypto Hackers
• Parallel Finance Launches ETH-Backed NFT Finance Beta