Helsinki - 10 January 2023 - Finnish fintech company Membrane Finance has launched its MiCAR-compatible e-money stablecoin EUROe on the Concordium blockchain. EUROe, the first native stablecoin on the green layer one blockchain dedicated to creating a safer digital world, enables the seamless movement of euros between Concordium and the traditional financial system.
EUROe’s expansion to Concordium brings a native stablecoin to the blockchain, enabling Concordium users a better and more stable experience when transacting on Concordium. EUROe enables new use cases such as euro payments, remittances, and decentralised trading.
"I am thrilled about our strategic integration with Concordium. This collaboration is not just a step forward; it's a leap into the future of digital finance. By combining EUROe's role as native money on the blockchain with Concordium's advanced privacy and SSI-based ID layer, we are addressing the core reasons why enterprises and institutions have traditionally leaned towards permissioned blockchains,” commented Juha Viitala, CEO of Membrane Finance. “Our integration makes most of these permissioned systems obsolete. We're offering a solution that provides enhanced privacy, native on-chain money in the form of EUROe, and a robust ID layer, all while maintaining regulatory compliance. This is a game-changer for enterprises seeking to enter the blockchain space without the complexities and limitations of the past. With Concordium, we're enabling a feature where EUROe can be used for gas fees, making blockchain interactions more user-friendly and enterprise-friendly. This is the future of blockchain for business – efficient, compliant, and built for the real world"
EUROe is a MiCAR-compliant euro stablecoin, transforming fiat euros into blockchain-enabled digital money. EUROe can be created and redeemed in a 1:1 ratio, without fees, by anyone with a EUROe Account. EUROe is backed by 100% bankruptcy-protected cash and 2% CET1 equity capital in European financial institutions or banks.
Developers can begin integrating and building with EUROe
Implemented as a CIS2 and CIS3 compatible token, developers can start implementing EUROe to their decentralised applications and platforms today. To enhance the interoperability of Concordium with the traditional financial system, developers can also access the EUROe Account API to programmatically mint and redeem EUROe within their applications. To learn more about integrating the EUROe stablecoin on Concordium or to get started with the EUROe Account APIs, please head to the EUROe Developer Portal at dev.euroe.com
The smart contracts have been published under the permissive MIT open-source licence, allowing other developers to build interoperable tokens on Concordium. The Membrane Finance team expects the smart contract to be used as the basis for new stablecoins and proliferation of tokenised assets.
Concordium is a permissionless green layer 1, a science-backed blockchain that balances privacy with accountability through its ID layer and Zero-knowledge proofs. Creating trust with ID is key to scaling businesses. Concordium provides a fast, secure, and high-scale blockchain platform that makes building use cases and using dApps easy. Concordium differs by having verified ID and instant finality with high throughput, and low transaction fees, pegged to FIAT. With leadership from Fortune 500 companies, Volvo, IKEA, Credit Suisse, Uber, and successful Fintech platforms, the team is scaling the chain to its extensive network of the world's biggest enterprises. For more information, visit Concordium.com
About Membrane Finance
Founded in 2021 in Finland, Membrane Finance is a financial technology company specialising in the development of financial software and services that seamlessly link traditional financial infrastructure and blockchain-based services. Membrane Finance is the principal architect of EUROe - an EU-regulated, full-reserve euro stablecoin that brings fiat euro liquidity on-chain. Membrane Finance’s mission is to foster financial innovation and inclusion on the blockchain by developing an ecosystem of secure money infrastructure, user-friendly applications and stablecoin-related services. www.membrane.fi
For more information, please contact: email@example.com
EUROe is an EU-based stablecoin and payment network regulated as an electronic money institution in the European Union. Based in Finland, a leading European hub for technology & regulatory stability, EUROe is being built for tomorrow’s businesses today. www.euroe.com