Noble Team Announces Integration of Monerium's EURe Stablecoin
- The EURe stablecoin, backed by the euro, has been launched on the Noble network.
- This integration will open access to the asset to users across the Cosmos ecosystem.
- It is the first stablecoin that is freely exchangeable between bank and cryptocurrency accounts.
- The asset is connected to the European payment system SEPA.
The Noble blockchain team has announced the integration of the EURe stablecoin from fintech firm Monerium. This will open access to the asset for users of the Cosmos ecosystem.
The partnership will integrate EURe with the Inter-Blockchain Communication (IBC) protocol, making the stablecoin available across more than 90 networks in the Cosmos ecosystem, the developers said.
Monerium will provide each user with a unique IBAN number. It is linked to a Noble address, allowing for fast transfers between the bank account and the IBC ecosystem.
“This approach effectively allows a wallet to become a bank account (and vice versa), opening up a wide range of unique applications, including payments, currency exchange, swaps, etc.,” the organization said.
As the project team emphasized, EURe is the first fully regulated euro-pegged stablecoin available in this ecosystem.
Monerium launched it in July 2022, according to its official website . Notably, the asset is integrated with the SEPA system. As the company stated, this enables direct transfers of “stablecoins” between bank accounts and crypto addresses at a rate of €1 to 1 EURe.
The asset is available in ecosystems such as Ethereum, Gnosis, and Polygon. As Noble noted, EURe is the most widely used euro-pegged stablecoin.
This is confirmed by data from the Dune Analytics platform. The asset's share among other stablecoins pegged to the euro is 47.8%.
We previously covered a statement by Circle representative Dante Disparte, who believes that stablecoins will become the main global means of payment.