Membrane Finance is proud to announce its long & ongoing relationship with Nordic Law, the leading web3-focused law firm in Finland. The collaboration has been successfully ongoing since the establishment of Membrane in 2021 to the present day. Most prominently, the collaboration has allowed Membrane to gain an electronic money institution (EMI) licence in Finland for the issue of the EUROe stablecoin.
Membrane Finance is a financial technology company facilitating hybrid financial markets by closing the gap between traditional financial markets and crypto ecosystems. Membrane Finance’s EUROe is the first EU-based regulated Euro e-money stablecoin. It enables fast, inexpensive, and open payments using existing blockchain rails.
Nordic Law specialises in providing business law services to companies focused on new emerging technologies such as web3, cryptos, and Fintech. Nordic Law provides lean and straightforward solutions to its clients to guide them through their most ambitious and ground-breaking projects.
As the first EU-based regulated euro stablecoin issuer, Membrane Finance is a pioneer in the cross-section of decentralised and traditional financial systems. Henceforth, the most noteworthy legal risk vectors have been related to the legal unknown unknowns. Thus far, the legal classification of the EUROe stablecoin and the related EMI licence process have been the most considerable challenges Membrane has faced.
Fortunately, Nordic Law has been an indispensable help for Membrane Finance in achieving the EMI licence and the EUROe stablecoin’s regulatory status as licensed e-money. Both of these milestones are vital for the entire business operations of Membrane and its mission of providing Europeans with access to the next-generation financial systems forming within DeFi.
To underpin the apotheosis of achieving the compliance milestones, EUROe is currently the only regulated EU-based stablecoin. Membrane Finance is the only licenced operator in the EU that can issue Euro-backed stablecoins currently within the entire European Economic Area (EEA).
Membrane Finance’s euro stablecoin, EUROe, will be first made available on Ethereum in Q1 2023. Based on the latest formulations of the upcoming Markets in Crypto-Assets, or MiCA, regulation (dubbed “the GDPR of crypto”), EUROe, as licenced e-money, shall, by default, also comply with the EU’s future legal regime on crypto-assets. This means that Membrane is already in a position that caters for sustainable and far-reaching business development of EUROe beyond the current legal regime.
Thanks to the heavy background efforts in legal compliance in close collaboration with Nordic Law, Membrane Finance can pledge to future-proof operations and long-term vision while providing the best security & privacy guarantees for EUROe’s end-users.