EUROe MiCA-Compliant Stablecoin Expands with Solana Integration

Finnish fintech company Membrane Finance announced it will launch its EUROe stablecoin on the Solana blockchain.

Membrane Finance’s EUROe integration with Solana offers native euro stability on the blockchain, enabling various use cases including foreign exchange, euro payments, and value storage.

EUROe is compliant with MiCA (the EU’s crypto regulatory framework), converting fiat euros into digital currency on a 1:1 basis. According to a blog post on Membrane Finance’s website, the stablecoin is backed by 100% cash and 2% CET1 equity capital in European financial institutions.

Wirex, a digital money app with over 6 million users, is also integrated with EUROe on Solana. This enables users to spend EUROe at millions of locations and convert it into 100+ currencies within the Wirex app.

See Also

EU Votes against provision which would have effectively banned Bitcoin and Ethereum

EUROe’s Solana integration establishes a fiat bridge across Ethereum, Polygon, Arbitrum One, Avalanche, and Solana, facilitating fund transfers between ecosystems.

Membrane Finance initially launched EUROe on the Ethereum blockchain back in February of this year. The company also received an Electronic Money Institution license from the FIN-FSA (the Finnish Financial Supervisory Authority)