EUROe Review: September 2023
Thank you for joining us for the EUROe updates for September 2023. In this edition, we feature insights from the CEO of Membrane Finance, present statistical data pertaining to EUROe's performance for the month, provide updates on various products, and discuss the ongoing expansion of the EUROe ecosystem.
TradFi meets crypto - The seamless integration offered by EUROeAs we navigate through the evolving financial landscape, the fusion of traditional finance (TradFi) and FinTech with the burgeoning realm of cryptocurrencies and digital assets is becoming increasingly imperative. However, the journey towards this integration has been perceived as complex and daunting, primarily due to compliance, legal, taxation, and bookkeeping challenges associated with cryptocurrencies.The good news is, the solution is within reach. The advent of regulated, MiCA-compliant stablecoins like EUROe is a game-changer, simplifying the interaction with digital assets significantly. Unlike other cryptocurrencies, EUROe is recognised as money on the blockchain, courtesy of its regulatory compliance. This recognition translates to a seamless experience from a bookkeeping and taxation perspective, akin to dealing with cash. The ease and familiarity that EUROe brings to the table are unparalleled, making the transition to digital assets smooth and straightforward.The innovation doesn't stop here. We are thrilled to announce that EUROe will soon be integrated with the Concordium layer 1 blockchain network - a novel, institution, and corporate-focused blockchain network predicated on Self-Sovereign Identity (SSI) and the tools for projects that need to satisfy compliance. This integration will address a longstanding challenge in the crypto space: the necessity of holding virtual currencies to cover gas costs. With Concordium's architecture, gas costs can be covered using EUROe, eliminating this hurdle. The result? Operating with digital assets will become as easy and intuitive as using online banking.The future where digital assets and traditional finance coalesce is not a distant dream but a present reality. The steps we are taking today with EUROe and its integration with Concordium are monumental strides towards a simplified, compliant, and user-friendly financial ecosystem. As we continue to innovate and break down barriers, the path to embracing digital assets becomes clearer and more accessible for all financial professionals.We invite you to explore the possibilities that EUROe and Concordium bring to the financial industry. Together, let's step into the future, where the interaction with digital assets is not an exception but a norm.
– Juha Viitala, CEO, Membrane Finance
EUROe in Numbers
EUROe supply stands at around 2.5m euros
EUROe has facilitated close to 15m of trading volume in DeFi
EUROe is available on 5 production and 7 test blockchains*
* EUROe is now available on Arbitrum One, Avalanche, Ethereum, Polygon, and Solana for production use. EUROe is also available for testing on the Arbitrum Goerli, Avalanche Fuji, Ethereum Goerli, Ethereum Sepolia, GEN-X Testnet, Polygon Mumbai, and Solana Devnet networks.
Picks from the EUROe Blog
Obligate and Membrane Finance Join Forces to Revolutionise Debt Financing
The Swiss bond platform Obligate has joined forces with Membrane Finance, the issuer of EUROe, to revolutionise business debt financing using tokenised bonds issued on-chain. This alliance aims to accelerate the adoption of on-chain tokenisation, thereby reducing the time and cost associated with originating business loans.
What is MiCA?
Membrane Finance's Juuso Roinevirta and Patrik Johanssonauthored a primer to MiCA. Read it here
The EUROe ecosystem has experienced significant expansion in the previous months. Below are some of the most noteworthy advancements:
Raydium, a leading Solana DEX, now supports EUROe.
Wirex, a digital money app, now allows card payments with EUROe.
Kamino provides liquidity vaults for EUROe on Solana.
EUROe Account API launched
In May, Membrane Finance announced the launch of the EUROe Account API which allows brokers, exchanges, corporations, consultancies, and more easily on- and off-ramp money between traditional and crypto markets. Learn more about the Account API here.
Get Started with EUROe Today!
Opening a EUROe account allows you to mint and redeem EUROe natively – with zero fees. EUROe helps you navigate payments, investments, procurement, and more with ease. EUROe account can be opened by any institution or company, subject to terms. Learn more about EUROe at euroe.com or integrate EUROe into your application today by visiting dev.euroe.com
That's it for this time! Make sure to tune back next time and follow EUROe on social media to stay updated!
Data provided in this email is for informational purposes only and should not be construed as financial, tax, legal, or other advice. Receipt of this email does not constitute you a client of Membrane Finance. The data in this email were sourced from: Research by Membrane Finance. Unless otherwise noted, the data corresponds to October 1. This marketing communication has been published by Membrane Finance Oy, an EMI registered in Finland. As of the date of this marketing communication, the crypto-asset white paper has not been published, pending ESMA action. Holders of EUROe have the right of redemption against the issuer at any time and at par value. Issuer contact details: Web: euroe.com | Email: info (at) euroe (dot) com | Tel: +358 10 348 7210