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Alkemi adds Monerium euro token to its stablecoin DeFi offering

www.cryptoninjas.net 12 February 2021 23:30, UTC
Reading time: ~2 m

Alkemi, a permissioned liquidity pool platform where users can borrow/lend on 5 core DeFi markets, today announced a new partnership with Monerium, a regulated European-based electronic money institution.

Holders of Monerium will soon be able to earn interest on deposits of their digital euros into the Alkemi Earn protocol. They will also be able to use those e-money deposits as collateral to borrow other digital assets on the platform, including DAI, USDC, ETH, and WBTC.

Monerium facilitates the creation of blockchain-based euros. This guarantees on-chain, programmable settlements take place within seconds, without intermediaries, at the fraction of the cost of traditional payments. With Monerium, users can move money seamlessly between blockchains and existing payment networks, keeping existing business relationships while building new ones in the on-chain world.

Alkemi Earn enables centralized, regulated institutions to access decentralized borrowing and lending services for their digital assets. With the provision of deep liquidity, enhanced security procedures for client transactions, and detailed reporting and risk monitoring, Alkemi is an advanced portal to DeFi.

“We were keen to partner with Monerium and list their Euro-backed regulated e-money on the Earn platform. We have seen a vast increase in the on-chain volumes of digital assets this year and we wanted to offer our customers exposure to European markets alongside our dollar-denominated stablecoin markets. Stablecoins are the gateway asset to DeFi and we are excited about the opportunity for our customers to tap into the Euro digital asset ecosystem.”
– Brian Mahoney, CSO, Alkemi Network

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