By George Ward
Finland is known for its innovative spirit, and it is no surprise that one of its fintech firms, Membrane Finance, has established EUROe – the first full-reserve stablecoin regulated by the EU. According to the announcement, the EUROe is pegged on a 1:1 ratio with the fiat reserves held in a financial institution. Juha Viitala, the CEO of Membrane Finance, clarified the project’s aim saying,
“Our ambition is to make decentralized finance (DeFi) available to the public, allowing Europeans to use a currency they trust and understand. This launch results from two years of diligent effort to establish the most compliant European payment systems possible, enabling users to take advantage of the new technologies in DeFi and other innovative technologies.”
Europe’s First EU-Regulated Stablecoin
EUROe is Europe’s first EU-regulated stablecoin and payment network. It allows users to buy, sell, and transfer euros without having to go through the costly and time-consuming process of traditional banking.
The platform is powered by a new blockchain protocol designed to make transactions faster and more secure than ever. The project runs on the Ethereum network, and allows users to design self-operating smart contracts.
The project crew plans to include assistance for more blockchains soon. With the launch of EUROe, Membrane Finance aims to make it easier for businesses and individuals to access and manage their finances, regardless of location.
Moreover, Membrane Finance’s commitment to compliance with EU regulations means that EUROe is a secure and reliable platform for users to trust. The company has also partnered with several leading banks in the Eurozone to enable access to additional security and trust from users.
The launch of EUROe is an exciting development in the world of fintech, as it has the potential to revolutionize the way people interact with their finances. Over the next few months, the performance of this stablecoin will determine whether other crypto firms will launch their EU-regulated stablecoin.`