Monerium Integrates Noble for MiCA-Compatible Stablecoin
Monerium has launched its stablecoin EURe on Cosmos, expanding its reach beyond established networks like Ethereum and Polygon.
The company has been licensed as an e-money institution since 2019 to issue e-money on the blockchain, fully compliant with MiCA. This means that its stablecoin EURe, along with its other fiat-backed tokens, are in line with regulations on markets in crypto assets.
“Compliant under the European MiCA regulations, EURe is fully collateralized by euro deposits and integrated into the European SEPA framework. This allows for instant euro transfers between self-custodial accounts and EU bank accounts,” the announcement read.
Monerium’s unique IBAN feature allows for seamless transfers of euros between custodial bank accounts and on-chain accounts, directly connected to Noble addresses. This integration gives users the ability to easily manage euro transactions across both the blockchain and traditional banking systems.
Noble, selected as Monerium’s lead partner, has emerged as a major player in the blockchain space. Since its launch in 2023, Noble has managed $280 million in assets and facilitated over $3 billion in transaction volume via its Inter-Blockchain Communication (IBC) protocol. Noble specializes in issuing and transferring stablecoins and real world assets (RWAs) across top-tier blockchains. Notably, it serves as the native issuance network for Circle’s USDC within the Cosmos ecosystem.
With over 90 application-specific blockchains, including Cosmos Hub, Injective, dYdX Chain, and Celestia, Noble is a key hub in the Cosmos Network, enabling seamless interoperability through IBC. Recently, Noble joined Circle in the European market after Circle received an e-money license from France in July, ensuring compliance with European cryptocurrency regulations.
In a recent interview, Circle CEO Jeremy Allaire predicted more competition in the EU following the first phase of MiCA regulation implementation, which focuses on stablecoins. Allaire welcomed the competition, saying that compliance is Circle’s competitive advantage, positioning its USDC and EURC stablecoins for success.
Meanwhile, Tether CEO Paolo Ardoino opposes MiCA’s requirement that 60% of stablecoin reserves be held in bank cash.
“Stablecoins should be able to hold 100% of their reserves in treasuries, rather than exposing themselves to bank failure by holding large amounts of reserves in uninsured cash deposits. In the event of a bank failure, the securities revert to the rightful owner.
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