Monerium rolls out euro-backed stablecoin on Cosmos via Noble

Fintech company Monerium has launched EURe on the Noble blockchain, marking it the first euro-backed stablecoin to launch natively in the Cosmos ecosystem.

The EURe launch takes place on Noble, a network designed explicitly for issuing and transferring stablecoins and other real-world assets across sovereign blockchains.

EURe is collateralized by euro-denominated deposits and integrated with the SEPA framework, enabling instant euro transfers between on-chain and custodial bank accounts.

Monerium, the issuer, complies with the EU’s MiCA regulations and was the first Electronic Money Institution authorized to issue e-money on blockchains starting in 2019. It issues regulated on-chain fiat currencies under MiCA authorization.

The firm provides a unique IBAN linked to each user’s self-custodial Noble address, facilitating fast transfers between bank accounts on Noble and the broader Cosmos network.

Noble serves as the native asset issuance network for Circle’s USDC stablecoin within the Cosmos ecosystem, comprising over 90 application-specific blockchains, including Cosmos Hub, Injective, dYdX Chain, Noble, Celestia and others. These blockchains interact with each other using the Inter-Blockchain Communication Protocol (IBC).

Since its inception in September 2023, Noble hosts $280 million in total assets and facilitated over $3 billion in IBC transfer volume. The platform addresses liquidity fragmentation across isolated execution environments and the rollup ecosystem.