Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The first legal cryptocurrency has been launched in Europe


February, 03 2023
watermark Economic news

The Finnish company Membrane Finance has released a fully licensed stablecoin backed by the European single currency. The company is licensed by the Finnish Financial Supervision Authority (Fin-FSA) and claims that EUROe is «the first and only cryptocurrency regulated by the EU.»


Earlier in June 2022, Circle Inc., based in the United States, also issued its own euro-backed stablecoin, but its EURO-Coin was initially stored in Silvergate Bank, an institution regulated by the United States. 


According to the message of Membrane Finance, each EUROe token is secured by at least one fiat euro in a European financial institution or bank. The company believes that this will allow for almost instant payments with approximately zero cost, in contrast to the high commission and low speed of traditional finance.


Juha Viitala, CEO of the Finnish company, expressed hope that EUROe will encourage more Europeans to use decentralized finance (DeFi) applications. Viitala stressed that stablecoins today are an integral part of the transition to a blockchain-based monetary infrastructure.


Membrane Finance hopes that the launch of the euro-stablecoin, regulated by the financial authority of the European Union, will attract more ordinary people to DeFi, who previously could not do it or were worried about the volatility of cryptocurrencies.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.