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Noble has collaborated with Monerium to launch an exclusive stablecoin. As per Noble, it is going to release EURe, the earliest, completely collateralized and authorized Euro stablecoin, on the Inter-Blockkchain Communication network. The platform disclosed this development on its official social media account.
1/ Announcing EURe on Noble! ✨✨
— Noble (@noble_xyz) September 18, 2024
Noble and @monerium have partnered to bring the first fully regulated, authorized & collateralized Euro stablecoin to the ever expanding network of IBC blockchains
Why is this significant? 👉 Your wallet is your bank account
Let’s dive in! 👇 pic.twitter.com/xnmtMZ6TjK
Monerium’s New Partnership with Noble Launches the EURe Stablecoin
In its recent X posts, Noble mentioned that this initiative brings a Euro-supported, compliant stablecoin to the IBC blockchain’s growing ecosystem. EURe is a distinct token in the case of being the initial stablecoin that is regulated in the jurisdiction of Europe. Since the launch of the stablecoin, it has rapidly turned into the most transferred Euro-backed stablecoin on-chain with more than €1.7B in terms of its transaction volume.
The Project Enables Easy Interoperability between Conventional Banks and the IBC Blockchains
In addition to this, the Single Euro Payments Area framework of Europe has also integrated the EURe stablecoin. It enables rapid transactions between conventional banks and the on-chain self-custodial wallets across the EU. The platform of Monerium further improves the consumer experience with the assignment of an exclusive IBAN. As each of the consumers gets the respective unique number, they can link the Noble wallet addresses thereof straight to the bank accounts.
Keeping that in view, the respective feature permits unparalleled and virtually rapid transactions between the IBC ecosystem and bank accounts. This opens up several financial applications such as swaps, foreign exchange, and payments.