Euro Stablecoin’s Wild Ride! 😲

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Ah, Monerium, that most ambitious of stablecoin issuers, has, it seems, sought the assistance of Elliptic, a firm steeped in the arcane arts of blockchain analytics, to further fortify its EURe stablecoin against the ever-present specter of non-compliance. One shudders to think of the potential scandals averted! 🧐

Monerium, the very progenitor of the EURe stablecoin, is clasping hands with Elliptic, that most British of blockchain forensic firms, in a desperate attempt to shore up its compliance systems and navigate the treacherous waters of regulatory risk. For as they expand their dominion across the vast and confusing blockchain networks, the regulators, those stern and humorless guardians of financial propriety, grow ever watchful. 🙄

In a press release, which, as is customary, was shared with crypto.news, Monerium declared this move to be in perfect alignment with their noble efforts to satiate the unquenchable demand that has arisen since their recent acquisition of a virtual asset service provider license. One can only imagine the champagne corks that popped that day! To aid in this grand endeavor, they shall employ Elliptic’s Lens, Investigator, and Navigator tools – surely instruments of immense power and complexity – for the purposes of automated anti-money laundering screening, real-time monitoring, and cross-chain investigation. Such dedication to transparency is truly inspiring. (Or is it?) 🤔

Gísli Kristjánsson, the esteemed co-founder and CEO of Monerium, proclaimed that Elliptic’s technology shall furnish the stablecoin issuer with the instruments necessary “to mitigate risks, ensure compliance, and enhance interoperability across multiple blockchain networks, enhancing the trust and security we offer to our customers.” One can almost hear the violins swelling as he speaks of trust and security… 🎻

Monerium boasts that it has processed over €4 billion in transaction volume and that EURe is the most widely used stablecoin in Europe – a claim that surely stirs jealousy in the hearts of rival stablecoin issuers. With Elliptic at their side, it is predicted that these new compliance tools shall reduce manual checks by up to a staggering 60%. Imagine the paperwork saved! 🎉

Elliptic CTO Jackson Hull, in his own pronouncements on this momentous partnership, declared that Monerium shall now be equipped to “manage operational hurdles, including compliance scalability, identifying fraudulent activity and maintaining transparency while safeguarding user data.” It sounds almost too good to be true, doesn’t it? 🤫

EURe, backed by euro-denominated deposits and connected to the SEPA system, allows euro transfers between blockchain wallets and traditional bank accounts. A most convenient arrangement, one might say. As of the moment of this writing, the stablecoin is available on Ethereum, Polygon, Gnosis, Cosmos, and Noble networks. One wonders which network it shall conquer next… 👑

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2025-04-15 13:33