Membrane Finance has made a big announcement – the launch of the Euro stablecoin, EUROe, on the Solana blockchain. This move is due to the advantage of Solana’s high performance and low fees. Moreover, an option for card payment on the blockchain is now available. The Euro stablecoin is compliant with MiCA, which is scheduled for implementation in 2024.
This is beneficial for Solana as it becomes multi-currency with an SPL token that is backed by Euro and complies with applicable laws. EUROe moving to Solana opens up various use cases for the community such as participating in foreign exchange of currency, value storage of Euros, and payments in the same currency.
Juha Viitala from Membrane Finance expresses excitement about bringing the potential of EUROe to Solana and the people of Europe. He adds that there are various use cases that involve payments and applications in the NFT and DeFi industry, as well as the GameFi application.
Furthermore, many dApps have started accepting EUROe on their platforms, such as Orca and Raydium Protocol, to boost investment and decentralized trading. This allows them to be the first-mover and onboard new users faster than other dApps.
Developers can also benefit from EUROe going live on Solana. They can use the EUROe Account API to move the currency between different blockchains and traditional financial systems. Businesses can also replicate the movement of EUROe between blockchains and traditional financial systems.
