Monei Gets Green Light From Bank of Spain To Test Euro-Backed Stablecoin

The Bank of Spain has given the green light for a pilot run of a euro-backed stablecoin by payments fintech Monei.

The euro-pegged digital token, EURM, has emerged from the Bank of Spain's digital sandbox for testing innovative new propositions. EURM facilitates the Europe-wide sending of euros and online payments by creating a token using Ethereum and Polygon Blockchain technology.

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Monei Gets Green Light From Bank of Spain To Test Euro-Backed Stablecoin

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