1. BITBILIHome
  2. Article

Finnish fintech company launches first Euro stablecoin on Solana

• 150 views

TL;DR Breakdown

  • Finnish fintech company Membrane Finance launched EUROe, Solana’s first euro stablecoin, aiming for MiCA compliance.
  • Digital money app Wirex supports EUROe, allowing use at over 40 million merchant locations worldwide.
  • EUROe’s launch on Solana represents a significant step in blockchain-powered money infrastructure, enabling seamless euro movement.

Description

Finnish fintech company Membrane Finance has launched the first euro stablecoin on the Solana blockchain. Named EUROe, the stablecoin is expected to be fully MiCA-compliant, aligning with the Markets in Crypto Assets regulations set to take effect in 2024. Membrane finance introduces EUROe, Solana’s first euro stablecoin The launch of EUROe on Solana marks a … Read more

Finnish fintech company Membrane Finance has launched the first euro stablecoin on the Solana blockchain. Named EUROe, the stablecoin is expected to be fully MiCA-compliant, aligning with the Markets in Crypto Assets regulations set to take effect in 2024.

Membrane finance introduces EUROe, Solana’s first euro stablecoin

The launch of EUROe on Solana marks a major step forward in the integration of fiat euros into blockchain-enabled digital money. Also, the stablecoin can be created and redeemed in a 1:1 ratio without fees by anyone with a EUROe account and is backed by 100% bankruptcy-protected cash and 2% CET1 equity capital in European financial institutions or banks.

Membrane Finance’s Compliance Officer, Patrik Elias Johansson, emphasized the importance of MiCA’s regulatory standards, stating, “MiCA brings a new level of accountability and consumer protection to the crypto asset sector.” He further expressed confidence that Solana has now become an extremely competitive contender for an increasing number of blockchain-based applications.

Solana’s high-performance blockchain platform, known for its fast transaction speeds, quick finality, and low fees, makes it an ideal choice for payments and foreign exchange. The addition of EUROe to Solana opens a native fiat bridge between five blockchains, including Ethereum, Polygon, Arbitrum One, and Avalanche, and the traditional financial system.

Wirex, a leading digital money app with over 6 million users, also announced its support for EUROe on the Solana blockchain from day one. This support means that Wirex’s vast user community can now use EUROe at more than 40 million merchant locations across over 200 countries and territories. Within the Wirex app, EUROe can be instantly converted to any of the 100+ currencies available.

Pavel Matveev, CEO and Co-Founder of Wirex, commented on the flexibility and future potential of EUROe, stating that it not only simplifies complexities but also reshapes the future of financial interactions.

The launch of EUROe on Solana heralds more than a euro-denominated and regulated payment method. It signifies a significant advancement in the transition towards blockchain-powered money infrastructure. The EUROe Account API enables automatic corporate treasury balancing and seamless movement of euros between Solana and the SEPA system, making it as easy as a single API call.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Finnish fintech company launches first Euro stablecoin on Solana

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月25日 09:20
Next 2023年8月25日 11:52

Related articles

  • Bank of Italy’s Milano hub to propel institutional DeFi research

    TL;DR Breakdown Bank of Italy’s Milano hub is set to provide support for Certif Advisory in its latest project. Certif Advisory aims to advance DeFi using its platform. Description The Bank of Italy’s Milano Hub innovation center is set to provide vital support for an ambitious project developed by Cetif Advisory. The focus of this collaboration revolves around researching a secure token ecosystem for institutional decentralized finance (DeFi). Bank of Italy’s Milano hub to help in DeFi research At the core of this endeavor … Read more The Bank of Italy’s Milano Hub innovation center is set to provide vital support for an ambitious project developed by Cetif Advisory. The focus of this collaboration revolves around researching a secure token ecosystem for institutional decentralized finance (DeFi). Bank of Italy’s Milano hub to help in DeFi research At the core of this endeavor lies the exploration of security tokens on secondary markets, which are digitized representations of real-world assets’ ownership. The primary goal of the project carried out in Bank of Italy’s Milano hub is not commercialization but to expand the…

    Article 2023年7月27日

  • Microsoft’s urgent plea to lawmakers and companies over AI

    TL;DR Breakdown Brad Smith, Microsoft’s president, has urged governments to move faster in their regulations concerning AI. Microsoft also called for corporations to initiate safety brakes for AI technology and develop a more comprehensive regulatory and legal framework governing AI. There remains a debate over the benefits and the troubles that come with AI adoption. Brad Smith, Microsoft President, recently called for better regulation of Artificial intelligence from government officials and lawmakers. This week, the tech industry bigwig went to Washington, DC, where he urged the officials to put up policies to regulate and provide better risk management of technologies governing generative applications such as ChatGPT. Smith’s plea to governments and corporations Microsofts president has urged governments to move faster in their regulations while at the same time asking corporations to step up amidst rapid AI development. Speaking before a panel of lawmakers on May 25, Smith highlighted two things that ought to be of major concern in the United States to mitigate the unforeseen risks presented by AI.  He stated that the first issue would be to enable innovation with…

    Article 2023年5月29日

  • G20 meeting sparks crypto clash, why key officials reject ban and embrace coordination

    TL;DR Breakdown Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), voiced her stance against an outright ban on cryptocurrencies.  This call for collaboration during the G20 meeting was seen as a response to the growing complexity and influence of cryptocurrencies in the modern financial landscape.  The ideas exchanged in the roundtable had a notable impact on India’s plans to present its own presidency note on crypto regulations.  Description In a recent roundtable discussion held during a G20 meeting, prominent economic officials emphasized the need for enhanced global coordination when it comes to regulating cryptocurrencies. This call for collaboration was seen as a response to the growing complexity and influence of cryptocurrencies in the modern financial landscape. Notably, Kristalina Georgieva, the Managing Director of … Read more In a recent roundtable discussion held during a G20 meeting, prominent economic officials emphasized the need for enhanced global coordination when it comes to regulating cryptocurrencies. This call for collaboration was seen as a response to the growing complexity and influence of cryptocurrencies in the modern financial landscape. Notably, Kristalina Georgieva,…

    Article 2023年8月16日

  • UBS left $10b state backing behind in Credit Suisse deal

    TL;DR Breakdown UBS foregoes $10.3 billion state support from Swiss government post-Credit Suisse acquisition. The bank also drops $100 billion liquidity aid from Swiss National Bank. Public and political concerns had arisen over the merger’s impact on Switzerland’s financial landscape. Description UBS boldly declared independence from a hefty financial safety blanket. A once-crucial $10.3 billion state support, granted during their acquisition of Credit Suisse, is now left behind in the banking behemoth’s rearview. The move highlights the bank’s renewed confidence, but more importantly, it’s a nod to the shifting undercurrents of global finance and the political … Read more UBS boldly declared independence from a hefty financial safety blanket. A once-crucial $10.3 billion state support, granted during their acquisition of Credit Suisse, is now left behind in the banking behemoth’s rearview. The move highlights the bank’s renewed confidence, but more importantly, it’s a nod to the shifting undercurrents of global finance and the political theater surrounding it. A Brazen Departure from the State’s Embrace Amidst the financial tumult that resulted in Credit Suisse’s takeover, UBS received significant backing from the…

    Article 2023年8月14日

  • Growing hope for U.S. economy’s gentle slowdown

    TL;DR Breakdown U.S. economy showing signs of gentle slowdown without recession. Inflation cooling to 4.1% in June; wage growth slowing but still robust. Q2 growth at 2.4%, surpassing expectations; stock market strong. Description The U.S. economy’s vibrant heartbeat is pulsing with hope, even as it gently decelerates. With the Federal Reserve’s tightening monetary policy, the storm clouds of recession are parting, and optimism is on the rise. The recent series of interest rate hikes hasn’t sent the economy into the doldrums. Instead, it’s shaping a soft landing – … Read more The U.S. economy’s vibrant heartbeat is pulsing with hope, even as it gently decelerates. With the Federal Reserve’s tightening monetary policy, the storm clouds of recession are parting, and optimism is on the rise. The recent series of interest rate hikes hasn’t sent the economy into the doldrums. Instead, it’s shaping a soft landing – a scenario where inflation control doesn’t wreck economic activity. There’s a growing belief that the U.S. might just pull this off. Here’s how. The Faint Whispers of Inflation Inflation was that haunting ghost, lingering…

    Article 2023年7月31日
TOP