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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