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What is Monerium EUR emoney (EURE)?

Quick Facts

  • Issuer: Monerium EMI ehf, an Iceland-based Electronic Money Institution
  • Peg: 1:1 to the Euro, backed by segregated euro deposits
  • Regulation: Authorized under EU e-money law and MiCA
  • Blockchains: Ethereum, Polygon, and IBC-enabled chains via Noble
  • Key feature: Web3 IBAN linking bank accounts to blockchain wallets
  • Use cases: Payments, DeFi, SEPA settlement, developer integrations
  • KYC/AML: Required to mint or redeem EURE tokens

Introduction

Monerium EUR emoney (EURE) is a regulated euro stablecoin issued on public blockchains. Unlike most stablecoins, EURE carries the full legal status of electronic money (e-money) under European Union law, giving holders a direct legal claim against the issuer.

Each EURE token represents exactly one euro, held in safeguarded reserve accounts. This makes it one of the most legally robust euro-denominated digital assets available on-chain.

History & Background

Monerium was founded with the goal of bridging traditional finance and blockchain technology. The company received authorization as an Electronic Money Institution in Europe in 2019, becoming the first EMI licensed to issue e-money on public blockchains.

The project launched EURE on Ethereum and Polygon, and later expanded to the Cosmos ecosystem via Noble. In 2024, Monerium migrated from V1 to V2 smart contracts, introducing lower gas costs, ERC-2612 permit support, and improved security.

How Monerium EUR emoney Works

To mint EURE, users create a Monerium account and complete KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. Once verified, they receive a personal Web3 IBAN — a traditional bank account number linked directly to their blockchain wallet.

Users can then send euros via SEPA from any bank directly to their wallet, automatically minting EURE on-chain. The reverse process burns EURE and transfers euros back to any designated bank account. This creates a seamless, regulated bridge between the traditional financial system and DeFi.

Tokenomics

EURE is a fully-collateralized, redeemable e-money token. Every token in circulation is backed 1:1 by euro deposits held in segregated custodial accounts, ensuring that user funds remain protected and independently verifiable.

The economic model is straightforward: tokens are minted when euros are deposited and burned upon redemption. There is no algorithmic mechanism or partial reserve — the collateral is always 100% euro-denominated.

Circulating Supply ? 29.42 million EURE
Total supply ? 29.42 million EURE
Max supply ? 0 EURE
Updated 5h ago

Ecosystem & Use Cases

EURe is designed to function as a digital euro across a broad range of applications:

  • DeFi participation: Used in liquidity pools and lending protocols such as Aave on Gnosis Chain
  • Business payments: Companies can automate euro-denominated payments using the Monerium API and SDKs
  • SEPA integration: Send and receive real bank transfers directly to and from a blockchain wallet
  • Cross-chain transfers: Available on Ethereum, Polygon, and Cosmos IBC-enabled chains

Team, Governance & Community

Monerium is led by CEO Gísli Kristjánsson, who has publicly advocated for a stronger European stablecoin ecosystem. The company is structured as a regulated financial institution, so its governance follows EU regulatory requirements rather than on-chain DAO mechanisms.

Community engagement happens through official social channels and developer documentation, with a focus on builders integrating euro payments into Web3 applications.

Advantages

  • Regulatory clarity: Legally classified as e-money under EU law and MiCA compliant
  • Full collateralization: Backed 1:1 by real euro deposits in segregated accounts
  • SEPA integration: Enables direct bank-to-wallet euro transfers via Web3 IBAN
  • Multi-chain availability: Deployable across Ethereum, Polygon, and IBC-compatible chains
  • Developer-friendly: Open APIs and SDKs for payment automation

Risks & Challenges

  • KYC requirement: Minting and redeeming EURE requires identity verification, limiting pseudonymous use
  • Regulatory dependency: As a regulated instrument, changes in EU e-money or MiCA policy could impact operations
  • Centralized issuance: Token supply is controlled by a single licensed entity, introducing counterparty risk
  • Eurozone exposure: Value is tied entirely to the euro, meaning EUR/USD or EUR/other currency fluctuations affect purchasing power outside the Eurozone

Long-Term Vision

Monerium positions EURE as the foundational regulated euro rail for Web3. The long-term goal is to make euro-denominated digital payments as seamless on-chain as they are in traditional banking — with the legal protections of a licensed financial institution.

As MiCA regulations take full effect across the European Economic Area, EURE is designed to benefit from increased institutional demand for compliant, euro-backed digital assets in both DeFi and enterprise finance.

Frequently Asked Questions

EURE is a regulated euro stablecoin issued by Monerium, a licensed Electronic Money Institution. Each token is backed 1:1 by euro deposits held in segregated accounts and carries the legal status of e-money under EU law.

Unlike most stablecoins, EURE is legally classified as electronic money under EU e-money law and is MiCA compliant. This gives holders a direct legal claim against the issuer and places the token within the same regulatory framework as licensed payment institutions.

Users must create a Monerium account and pass KYC and AML verification. Once approved, they receive a Web3 IBAN and can send euros via SEPA to mint EURE, or burn EURE to receive euros back in a bank account.

A Web3 IBAN links a traditional bank account number to a blockchain wallet address. It allows users to send and receive standard SEPA bank transfers that automatically mint or redeem EURE on-chain.

EURE is available on Ethereum and Polygon, and is also accessible on Cosmos IBC-enabled chains such as Osmosis through issuance via the Noble chain.

Yes. Every EURE in circulation is backed by an equivalent euro deposit held in segregated custodial accounts. There is no algorithmic or partial-reserve mechanism.

MiCA (Markets in Crypto-Assets Regulation) is the EU's comprehensive regulatory framework for digital assets. Monerium is noted as the first EMI to achieve MiCA compliance, giving EURE a strong regulatory foundation for institutional and retail use in the European Economic Area.

EURE is used for euro-denominated DeFi activities such as lending and liquidity provision, automated business payments via the Monerium API, and cross-border SEPA settlements directly between bank accounts and blockchain wallets.