Monerium Launches EURe Stable Currency on Gnosis Chain

On March 21st, Gnosis Chain officially announced that the electronic currency institution Monerium has launched an over collateralized Euro stable currency EURe on the network, with a mortgage rate of 102%, supported by actual euros held in bank deposits or qualified high-quality, highly liquid securities. With the help of the digital asset management platform Safe to sign transactions, EURe can be sent as euros to any bank account through the Single Euro Payment Area (SEPA).

The electronic currency institution Monerium launched the Euro stable currency EURe in Gnosis Chain

On March 21st, Gnosis Chain officially announced that the electronic currency institution Monerium has launched an over collateralized Euro stable currency EURe on the network, with a mortgage rate of 102%, supported by actual euros held in bank deposits or qualified high-quality, highly liquid securities. This article will explore what Monerium and Gnosis Chain are, what stable currencies are, the features and benefits of EURe, as well as how EURe can be sent as euros to any bank account through the Single Euro Payment Area (SEPA).

What is Monerium?

Monerium is a company that is transforming traditional currency and facilitating electronic currency transactions using blockchain technology. Their mission is to make electronic money accessible and affordable to everyone, while complying with regulatory requirements. Founded in 2016, Monerium has headquarters in Reykjavik, Iceland, and an office in London, UK.

What is Gnosis Chain?

Gnosis Chain is a blockchain platform for creating, trading, and managing assets. It is built on Ethereum, which is a decentralized blockchain platform, and uses smart contracts to enable trustless interactions between parties. Gnosis Chain aims to make it easy for businesses and individuals to create their own asset-backed tokens, such as stable coins, prediction markets, and crowdfunding tokens.

What are stable currencies?

Stable currencies are a type of cryptocurrency that are pegged to the value of another asset, such as fiat currency (e.g. USD, EUR), a commodity (e.g. gold, silver), or a basket of assets. Stable currencies are designed to provide the benefits of cryptocurrencies, such as low transaction fees, faster settlement times, and global accessibility, while avoiding the volatility that is often associated with other cryptocurrencies, such as Bitcoin and Ethereum.

Features and Benefits of EURe

EURe is an over collateralized Euro stable currency launched by Monerium on Gnosis Chain. It is supported by actual euros held in bank deposits or qualified high-quality, highly liquid securities, which means that each EURe is equivalent to one euro. EURe has the following features and benefits:

1. Over collateralized

EURe is over collateralized, which means that for every EURe issued, there is a corresponding value of assets held as collateral. The mortgage rate of EURe is 102%, which provides a margin of safety for investors and helps to protect them against market fluctuations.

2. Transparent and auditable

EURe is built on the blockchain, which means that all transactions are transparent and auditable. Investors can verify the amount of collateral backing EURe, as well as the transactions that have taken place.

3. Fast and low-cost transactions

EURe can be sent as euros to any bank account through the Single Euro Payment Area (SEPA), which means that transactions are fast and low-cost. SEPA is a payment integration initiative of the European Union, which allows for easy and cheap cross-border transfers within the EU.

Conclusion

EURe is a new stable currency launched by Monerium on Gnosis Chain, which is designed to provide investors with a secure and stable value of the euro. It is over collateralized, transparent, and has fast and low-cost transactions. EURe is an innovative solution for those who want to benefit from the advantages of cryptocurrencies without being exposed to the volatility that is often associated with them.

FAQs

#1. How does EURe differ from other stable currencies?

EURe is over collateralized, which means that it has a higher margin of safety for investors than other stable currencies. It is also supported by actual euros held in bank deposits or qualified high-quality, highly liquid securities, which provides additional security.

#2. Is EURe regulated by a financial authority?

Yes, EURe is regulated by the Financial Supervisory Authority of Iceland (FSA), which is an independent public institution in charge of supervising financial activities in Iceland.

#3. How can I purchase EURe?

You can purchase EURe on the Gnosis Chain platform using cryptocurrencies such as Ethereum or Bitcoin.