TL;DR
- Monerium has launched EURe, the first euro-backed stablecoin in the Cosmos ecosystem, on the Noble blockchain.
- EURe is backed by euro deposits and integrates with the SEPA system to enable instant transfers between bank accounts and on-chain.
- Noble, the blockchain supporting EURe, facilitates the issuance of stablecoins and real-world assets, managing $280 million in assets and over $3 billion in transfers.
Monerium has introduced EURe, the first euro-backed stablecoin in the Cosmos ecosystem, launched on the Noble blockchain.
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. The euro backing and SEPA integration ensure that EURe provides high liquidity and stability in blockchain transactions.
1/ Announcing EURe on Noble! ✨✨
Noble and @monerium have partnered to bring the first fully regulated, authorized & collateralized Euro stablecoin to the ever expanding network of IBC blockchains
Why is this significant? 👉 Your wallet is your bank account
Let’s dive in! 👇 pic.twitter.com/xnmtMZ6TjK
— Noble (@noble_xyz) September 18, 2024
Monerium, the issuing company, has a track record of compliance with European MiCA (Markets in Crypto-Assets) regulations and was a pioneer in issuing electronic money on blockchains since 2019. Its experience in regulating and issuing fiat currencies on blockchain has been a key factor in the creation of EURe.
The Noble blockchain, where EURe is launched, is specifically designed 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 such as Cosmos Hub, Injective, dYdX Chain, and Celestia.
Monerium and Noble Promise 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 expected to enhance liquidity and efficiency in euro transactions within the Cosmos ecosystem. Monerium has provided a unique IBAN for each self-custodial address on Noble, simplifying transfers between bank accounts and blockchain addresses.
This development will be crucial in expanding the options available to stablecoin users within the Cosmos ecosystem. Additionally, it aims to set new standards in terms of integrating traditional assets with blockchain technology
