What is EUROe?
EUROe is the native stablecoin of the Concordium Blockchain.
EUROe is a digital version of euros, a blockchain native electronic money. It brings ease to enterprises and retail users as it's considered a cash equivalent in both accounting and taxation-related aspects. EUROe is fully backed with fiat euros held in licensed European financial institutions. It seamlessly connects the existing traditional banking system with trillions in deposits to the blockchain through its 1:1 mint and redemption mechanism.
The integration of EUROe offers benefits to companies, investors, builders, and users of the modern blockchain.
Crypto-asset service providers and other key stakeholders integrating with the Concordium blockchain can ensure their continued compliance as the European crypto markets move towards fully adopting the Markets in Crypto Assets regulation introduced in June 2023. Users of Concordium also enjoy an improved risk profile as they can shift from bridged stablecoins to a natively issued stablecoin designed for Concordium.