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Membrane Finance launches EUROe on Ethereum

The Finnish technology company Membrane Finance has announced the launch of the EU-regulated stablecoin EUROe.

By Mike Hesp
• 1 min read
Membrane Finance launches EUROe on Ethereum

The Finnish tech company Membrane Finance has announced the launch of the EU-regulated stablecoin EUROe. In a blog post from February 2, Membrane Finance called it "Europe's first and only EU-regulated stablecoin and payments network with full support."

The digital money represents the euro on a 1:1 basis, and the stablecoin is backed by fiat currency deposits. "Unlike other euro-pegged stablecoins, EUROe from the FIN-FSA has earned licensing for electronic money," the company said.

"Launching a truly regulated, EUR-based stablecoin is great news for us and for the broader European crypto market and community," said Juha Viitala, CEO and co-founder of Membrane Finance.

Since Thursday, February 2, EUROe can be deployed in smart contracts and traded on Ethereum. Earlier this week, a stablecoin was also launched on Cardano's blockchain.

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