Episode 503

Monerium – Regulated On-Chain Euro (EURe)

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Stablecoins represent the backbone of DeFi, allowing complex financial applications to be protected from external volatility. From fiat-backed to algorithmic, there are multiple approaches to issuing and backing stablecoins. While US regulations are looming over the crypto industry, Monerium released a fully regulated on-chain euro stablecoin, the EURe, enabling direct SEPA transfers, on- and off-ramp.

We were joined by Sveinn Valfells, CEO of Monerium, to discuss about the European E-Money Directive and how it set the ground for fully regulated on-chain currencies (EURe) built on top of SEPA.

Topics discussed in the episode

  • Sveinn’s background and building Monerium
  • Regulated on-chain EUR and seamless SEPA on- and off-ramps
  • How electronic money regulation differs from MiCA
  • What assets back EURe
  • Monerium’s business model
  • EURe’s adoption compared with other stablecoins (USDC, USDT)
  • Issuing other currencies on-chain
  • CBDCs and the banking sector
  • Challenges of building on SEPA
  • IBAN discrimination
  • KYC limitations
  • DeFi and stablecoin backing
  • Real world assets used as on-chain collateral

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