U.Today - After successful releases on Ethereum (ETH), Polygon (MATIC), Arbitrum One (ARB) and Avalanche (AVAX), the pioneering EU-regulated stablecoin on the euro expands to Solana (SOL) and receives feature-rich fiat integration with a retail payments app.
First euro-pegged stablecoin debuts on Solana (SOL)
EUROe, a MiCA-compliant euro stablecoin, expands to Solana (SOL), the fourth-largest smart contracts platform on Web3. This was announced in a statement by Membrana Finance, a Finland-based start-up behind the development of the EUROe and related digital assets solutions.As with versions on other blockchains, Solana-based EUROe can be created and redeemed in a 1:1 ratio with zero fees. EUROe is backed by a basket of 100% bankruptcy-protected cash and 2% CET1 equity capital in EU-regulated financial and banking entities.
Patrik Elias Johansson, compliance officer of Membrane Finance, stresses the importance of the release on Solana (SOL) for the progress of stablecoin payments and regulatory compliant digital assets:
As by U.Today previously, EUROe stablecoin was introduced in December 2022 as a regulatory-compliant alternative to mainstream USD-pegged stable cryptocurrencies.
EUROe receives fiat payments instrument
Also, starting from mid-August 2023, EUROe is integrated into Wirex digital transfers application. As such, EUROe is now accepted by 40+ million merchants across over 200 countries globally.Furthermore, within the application, EUROe can be instantly exchanged for 100+ world currencies. Pavel Matveev, CEO and co-founder of Wirex, is excited by the speed and flexibility of Solana (SOL) blockchain:
As demonstrated by CoinMarketCap tracker, EUROe has 1,001,000 coins in total supply. The asset is available in pairs with USD Coin (USDC), Arbitrum (ARB) and other altcoins on Uniswap v3 and Orca noncustodial exchanges.