BlocksInform
Allowing almost instantaneous payments at a fraction of the cost, the euro centre is the first to be regulated as an electronic money institution across Europe.
On Thursday, Helsinki-based fintech company Membrane Finance launched Europe’s first fully-reserved, EU-regulated stablecoin and payments network.
The stability of the euro currency was launched on the ethereum blockchain, where it is 1:1 set to the euro. Euro stablecoin will make it possible to carry out transactions at virtually no cost all over the world.
The issue that Eurostability has been solving for decades, to the extent that the traditional financial system takes days to pay out payments, that are so expensive, and require multi-third-party friction.
Juha Viitala, CEO and co-founder of Membrane Finance, said about the start-up of her business:
'The launch of a genuinely regulated euro stability is huge news for us and for the European cryptocurrency market and the community as a whole. We want to bring decentralized finance to the masses and ensure that it is as easy as possible for Europeans to use a currency in which they have confidence and know. This launch is the result of two years of hard work to build the most robust regulatory-compliant European payment systems that allow you to leverage innovation in decentralised finance and other emerging technologies,”
The attainment of a licence from the FIN-FSA has been key in the progress of Membrane Finance’s EUROe stablecoin, giving it legitimacy in the stablecoin space, and putting it way ahead of the competition in the face of the impending MiCA regulations that are said to form the strictest digital asset framework in the world.
Vitala concluded:
“Stablecoins are an essential part of the transition towards blockchain-based money infrastructure, and Europeans deserve to have a full-reserve euro stablecoin from the EU and regulated by an EU-based financial authority. EUROe brings, hopefully, more regular people to challenge, who were previously incapable or worried about cryptocurrency volatility,
