The EUROe Expansion on Solana The EU-regulated stablecoin EUROe, known for its successful launches on prominent platforms like Ethereum, Polygon, Arbitrum One, and Avalanche, has now made its way to Solana, the eminent smart contract platform in the Web3 ecosystem. This development was unveiled by Membrana Finance, the innovative Finland-based startup that spearheads the creation of the EUROe and other associated digital asset solutions.
Consistent with its iterations on various blockchains, the Solana version of EUROe offers a 1:1 creation and redemption ratio without any fees. What sets EUROe apart is its robust backing – a combination of 100% bankruptcy-protected cash and 2% CET1 equity capital, all housed within EU-sanctioned financial institutions.
Patrik Elias Johansson, the Chief Compliance Officer at Membrana Finance, underlines the significance of the Solana debut, emphasizing the positive impact on the world of stablecoin transactions and regulatory-compliant digital currencies. He notes that this move enhances Solana’s competitive edge, urging businesses to view it as a potent platform for blockchain application development, especially those who once shied away due to regulatory ambiguities.
EUROe’s Historical Context and Legacy December 2022 marked a pivotal moment in the crypto universe with the introduction of the EUROe stablecoin. This wasn’t just another cryptocurrency – it stood out as a regulation-friendly alternative to the predominant USD-centric stable cryptocurrencies. Its uniqueness lay in its commitment to adhering to the regulatory frameworks, thereby bringing more credibility to the digital currency realm.
EUROe’s Fiat Integration and What It Means for Users As of mid-August 2023, EUROe has extended its capabilities by integrating with the Wirex digital transfer application. This integration translates to its acceptance by an astounding 40+ million merchants spanning over 200 countries worldwide. Additionally, the Wirex app now offers its users the option to seamlessly swap EUROe with over 100 international currencies.
Pavel Matveev, the dynamic CEO and co-founder of Wirex, expresses his enthusiasm for the EUROe’s incorporation. He believes that this integration not only streamlines the financial management process for users but also paves the way for the next era of financial engagements. As per the latest data from CoinMarketCap, EUROe boasts a supply of 1,001,000 coins and can be traded against several crypto pairs, including USD Coin and Arbitrum on platforms like Uniswap v3 and Orca.
