- Stablecoin will appear on the GEN-X testnet
- It will allow you to carry out settlements on business transactions almost instantly.
Recently Finnish fintech company Membrane Finance and deltaDAO concluded partnership to develop the EUROe stablecoin. It will be the first and only EU-regulated stablecoin. It will run on the GEN-X testnet built with Polygon Supernets.
On Twitter, Polygon Labs wrote:
“The collaboration between @deltaDAO, @MembraneFinance and Polygon Labs leverages the Polygon Supernet and Ocean Protocol suite of technologies to connect traditional industries with the fastest growing industries in the Web3 ecosystem”
The use of EUROe will make the process of international settlements much more accessible and compact, without the need for intermediaries. This initiative allows for a highly interoperable settlement, as participants do not need to use multiple payment providers.
deltaDAO co-founder Kai Meinke stated:
“Europe must become more digitally competitive in order to compete on the global stage. Integrating EUROe into the GEN-X network is another step that will bring us much closer to creating a digital economy.”
EUROe can be implemented as part of business operations to enable faster and cheaper international payments. Also, the currency can be made available to large enterprises on private blockchains.
“Currently, we are seeing interest in using EUROe as payment and settlement currency in various initiatives related to data and tokenization. The use of tokenized currency makes it possible to speed up and reduce the cost of transactions, while ensuring the complete completion of payments,” said Juha Vitala, CEO of Membrane Finance.