{"id":"eure","title":"EURe","content":"**EURe** is a regulated electronic money token (EMT) designed to maintain a 1:1 value peg with the euro (€). Issued by [Monerium](https://iq.wiki/wiki/monerium) EMI ehf., an authorized Electronic Money Institution (EMI) in the European Economic Area (EEA), EURe functions as a digital claim on euro-denominated funds held in safeguarded accounts. The token operates on multiple public blockchains and is structured to comply with the European Union's Markets in Crypto-Assets (MiCAR) regulation, providing a compliant on-chain representation of the euro. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq) [\\[2\\]](#cite-id-NNzU1mc5tnUvmfaB)​\n\n## Overview\n\nEURe was created to bridge traditional finance with [blockchain](https://iq.wiki/wiki/blockchain) technology, offering a programmable and regulated form of [fiat](https://iq.wiki/wiki/fiat-money) currency for on-chain transactions, e-commerce, and financial settlements. Each token is fully backed by an equivalent amount of euro-denominated assets, which consist of either [fiat](https://iq.wiki/wiki/fiat-money) currency deposited in segregated accounts at regulated credit institutions or investments in high-quality liquid assets (HQLA). The token's total supply is dynamic, expanding when customers deposit euros to [mint](https://iq.wiki/wiki/minting) new tokens and contracting when they redeem tokens for euros. The issuance and redemption processes are facilitated through the Single Euro Payments Area (SEPA) network, connecting conventional bank accounts with [Web3](https://iq.wiki/wiki/web3) wallets. As an e-money token under MiCAR, EURe holders do not receive interest or other returns based on the duration of holding the token. In the event of the issuer's insolvency, EURe holders have a special priority statutory claim on the safeguarded reserve assets, placing them ahead of other creditors. However, the token is not covered by investor compensation schemes or deposit guarantee schemes, with its security instead relying on the 1:1 asset backing and regulatory safeguards. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq) [\\[3\\]](#cite-id-jeP6cA32xoiG4vaG) [\\[4\\]](#cite-id-eflA5TrXOfkdydmX) \n\n## Issuer and Regulatory Framework\n\nEURe is issued by [Monerium](https://iq.wiki/wiki/monerium) EMI ehf., a private limited liability company based in Reykjavík, Iceland. [Monerium](https://iq.wiki/wiki/monerium) was authorized as an Electronic Money Institution on June 14, 2019, and is supervised by the Financial Supervisory Authority of the Central Bank of Iceland. The company's operations and the issuance of EURe are governed by Icelandic law and European Union regulations. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq) [\\[3\\]](#cite-id-jeP6cA32xoiG4vaG)​\n\n### MiCAR Compliance\n\nAs an Electronic Money Token (EMT), EURe operates within the legal framework established by Regulation (EU) 2023/1114, also known as the Markets in Crypto-Assets (MiCAR) regulation. This framework dictates key aspects of its operation: [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq)​\n\n* **Holder Rights:** Holders have a legal right to redeem EURe for euros at par value at any time. This right is contingent on the holder successfully completing [Monerium's](https://iq.wiki/wiki/monerium) Customer Due Diligence (CDD) process.\n* **Prohibition on Interest:** Article 50 of MiCAR prohibits issuers of e-money tokens from offering interest or any other benefits tied to the length of time the tokens are held.\n* **Asset Safeguarding:** Reserve assets must be segregated from the issuer's corporate funds and protected from the claims of other creditors.\n* **Whitepaper Requirement:** The issuer is required to publish a detailed whitepaper compliant with Title IV of MiCAR, outlining the token's features, risks, and the rights of its holders.\n\n### Safeguards and Compliance\n\nTo comply with [anti-money laundering (AML)](https://iq.wiki/wiki/anti-money-laundering-aml) and counter-terrorist financing (CTF) regulations, all users wishing to issue or redeem EURe directly with [Monerium](https://iq.wiki/wiki/monerium) must establish a customer relationship. This involves a full CDD process, including [Know Your Customer (KYC)](https://iq.wiki/wiki/know-your-customer-kyc) checks and sanctions screening. [Monerium](https://iq.wiki/wiki/monerium) has the technical capability and regulatory obligation to freeze EURe tokens associated with blacklisted addresses or prohibited activities. Holders of frozen tokens forfeit their rights, including the right to redemption.\n\nAs required by Article 55 of MiCAR, [Monerium](https://iq.wiki/wiki/monerium) maintains formal recovery and redemption plans to manage scenarios of financial distress. The recovery plan outlines measures to restore compliance with reserve asset requirements, which may include liquidity fees, daily redemption limits, or a temporary suspension of redemptions. The redemption plan is an operational plan activated by the Central Bank of Iceland if [Monerium](https://iq.wiki/wiki/monerium) is deemed unable to fulfill its obligations, ensuring an orderly wind-down and equitable treatment of token holders. Any legal disputes are subject to the jurisdiction of the District Court of Reykjavík. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq)​\n\n## Technology and Architecture\n\nEURe is a multi-chain asset that operates on public, decentralized [blockchains](https://iq.wiki/wiki/blockchain). [Monerium](https://iq.wiki/wiki/monerium) does not control these underlying networks and has no privileged technical access. Transaction execution and fees are governed by the respective [blockchain's](https://iq.wiki/wiki/blockchain) protocol and consensus rules. Due to the immutable nature of blockchain technology, all on-chain transfers of EURe are irreversible, and [Monerium](https://iq.wiki/wiki/monerium) cannot recover tokens sent to an incorrect or unintended address. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq)​\n\n### Multi-Chain Support\n\nEURe was initially launched on [Ethereum](https://iq.wiki/wiki/ethereum), [Polygon](https://iq.wiki/wiki/polygon), and [Gnosis](https://iq.wiki/wiki/gnosis). Its presence has since expanded to several other networks to increase interoperability. In June 2024, EURe was natively issued on the [Noble](https://iq.wiki/wiki/noble) [blockchain](https://iq.wiki/wiki/blockchain), making it available across the Inter-Blockchain Communication (IBC) protocol ecosystem. The token is available on the following [blockchains](https://iq.wiki/wiki/blockchain): [\\[5\\]](#cite-id-LyW9OtQfVZzKjD0U) [\\[6\\]](#cite-id-DFLTmxkYTpJJwMyr)​\n\n* [Ethereum](https://iq.wiki/wiki/ethereum)\n* [Polygon](https://iq.wiki/wiki/polygon) PoS\n* [Gnosis](https://iq.wiki/wiki/gnosis) Chain\n* [Arbitrum](https://iq.wiki/wiki/arbitrum) One\n* Linea\n* [Scroll](https://iq.wiki/wiki/scroll)\n* [Noble](https://iq.wiki/wiki/noble) (for the Cosmos ecosystem)\n* [Osmosis](https://iq.wiki/wiki/osmosis-osmo)\n* [Terra](https://iq.wiki/wiki/terra)\n\n### Token Standards\n\nThe EURe token followed multiple [Ethereum](https://iq.wiki/wiki/ethereum) standards to support broader functionality across EVM-compatible networks, including [ERC-20](https://iq.wiki/wiki/erc-20) for basic fungible token operations, ERC-2612 for gasless approvals through off-chain digital signatures, and ERC-677, which enabled the *transferAndCall* function so a token transfer could simultaneously trigger a [smart-contract](https://iq.wiki/wiki/smart-contract) action within the recipient contract. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq) \n\n## Financial Model\n\n### Asset Backing and Reserves\n\nEach EURe token was backed 1:1 by euro-denominated reserve assets, with Monerium maintaining over-collateralization at roughly 102%, meaning €102 in assets were held for every €100 of EURe in circulation. These reserves were segregated from [Monerium’s](https://iq.wiki/wiki/monerium) corporate funds and consisted of [fiat](https://iq.wiki/wiki/fiat-money) deposits kept in safeguarded accounts at regulated EU credit institutions, along with high-quality liquid euro-denominated assets managed by a European asset manager. Monerium’s revenue came from interest earned on these safeguarded assets, foreign exchange services, and fees associated with API access. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq)​\n\n### Issuance and Redemption\n\nEURe’s supply is controlled through a [mint](https://iq.wiki/wiki/minting)-and-[burn](https://iq.wiki/wiki/token-burn) process tied directly to fiat movements through the SEPA network. When an approved Monerium customer deposits euros into a safeguarded account, [Monerium](https://iq.wiki/wiki/monerium) mints an equal amount of EURe tokens and sends them to the customer’s designated [blockchain](https://iq.wiki/wiki/blockchain) wallet. For redemption, an EURe holder signs a transaction to send their tokens to a designated redemption address, where the tokens are burned and removed from circulation, after which [Monerium](https://iq.wiki/wiki/monerium) transfers the corresponding euros back to the holder’s bank account via SEPA. [\\[1\\]](#cite-id-gKZDQ5RoPwqyrmfq) ","summary":"EURe is a regulated e-money token (EMT) by Monerium, pegged 1:1 to the Euro. Compliant with MiCAR, it's fully backed by safeguarded assets and operates on blockchains like Ethereum and Polygon, bridging traditional finance with Web3.","images":[{"id":"QmakfT1MzfvkNpjDdvzy9jocsPCY1JLDB25Wyktc9XwN8h","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"cryptocurrencies"}],"tags":[{"id":"Stablecoins"},{"id":"Ethereum"},{"id":"Regulations"},{"id":"Blockchains"}],"media":[{"id":"Qmbf4u18tHoXAkn9uVF2VJPTPvpzHRGtkfV9KnEvYTgvdW","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmZJRasLy7mPFbaFnuVvgRYGpr11ThVLas3nzcfcfEyHtE","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmbyU6VK2UAa6XwabVZUCzKFdvfquXNbWDAMzcQbWkPTEj","type":"GALLERY","source":"IPFS_IMG"},{"id":"QmfNEkrwkUeqK7po8b4D9xQDaxsJuFP1GksTh4UppwzW5q","type":"GALLERY","source":"IPFS_IMG"}],"metadata":[{"id":"references","value":"[\n  {\n    \"id\": \"gKZDQ5RoPwqyrmfq\",\n    \"url\": \"https://monerium.com/whitepapers/eure-whitepaper/\",\n    \"description\": \"EURe Whitepaper by Monerium\",\n    \"timestamp\": 1765318996565\n  },\n  {\n    \"id\": \"NNzU1mc5tnUvmfaB\",\n    \"url\": \"https://coinmarketcap.com/currencies/monerium/\",\n    \"description\": \"Monerium EUR emoney on CoinMarketCap\",\n    \"timestamp\": 1765318996565\n  },\n  {\n    \"id\": \"jeP6cA32xoiG4vaG\",\n    \"url\": \"https://www.bleap.finance/blog/all-about-eur-regulated-stablecoin-by-monerium\",\n    \"description\": \"All about EURe, regulated stablecoin by Monerium\",\n    \"timestamp\": 1765318996565\n  },\n  {\n    \"id\": \"eflA5TrXOfkdydmX\",\n    \"url\": \"https://monerium.com/blog/2023/what-is-emoney/\",\n    \"description\": \"Monerium blog post on e-money as stablecoins\",\n    \"timestamp\": 1765318996565\n  },\n  {\n    \"id\": \"LyW9OtQfVZzKjD0U\",\n    \"url\": \"https://noble.xyz/eure\",\n    \"description\": \"Noble announces native EURe issuance for the Cosmos ecosystem\",\n    \"timestamp\": 1765318996565\n  },\n  {\n    \"id\": \"DFLTmxkYTpJJwMyr\",\n    \"url\": \"https://www.coingecko.com/en/coins/monerium-eur-money\",\n    \"description\": \"List of supported blockchains for EURe on CoinGecko\",\n    \"timestamp\": 1765318996565\n  },\n  {\n    \"id\": \"olVd8YC3dNsXbKMr\",\n    \"url\": \"https://monerium.com/\",\n    \"description\": \"Monerium official site with link to Dune dashboard\",\n    \"timestamp\": 1765318996565\n  }\n]"},{"id":"website","value":"https://monerium.com/"},{"id":"github_profile","value":"https://github.com/monerium/smart-contracts"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/monerium/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/monerium-eur-money"},{"id":"contract_url","value":"https://etherscan.io/token/0x3231cb76718cdef2155fc47b5286d82e6eda273f"},{"id":"email_url","value":"hello@monerium.com"},{"id":"location","value":"Reykjavík, Iceland"},{"id":"website","value":"https://monerium.com"},{"id":"twitter_profile","value":"https://twitter.com/monerium"},{"id":"facebook_profile","value":"https://www.facebook.com/monerium"},{"id":"reddit_profile","value":"https://reddit.com/r/monerium"},{"id":"discord_profile","value":"https://monerium.com/invite/discord"},{"id":"etherscan","value":"https://etherscan.io/token/0x39b8B6385416f4cA36a20319F70D28621895279D"},{"id":"nansen","value":"https://app.nansen.ai/token-god-mode?chain=ethereum&tab=transactions&tokenAddress=0x3231Cb76718CDeF2155FC47b5286d82e6eDA273f"},{"id":"polygonscan","value":"https://polygonscan.com/token/0xE0aEa583266584DafBB3f9C3211d5588c73fEa8d"},{"id":"gnosis","value":"https://gnosisscan.io/token/0x420CA0f9B9b604cE0fd9C18EF134C705e5Fa3430"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmNu9N8pc5a2t1VKzJdfBYFJPGfNtCz65VLTMxCFJs69ZA\""},{"id":"commit-message","value":"\"Removed introduction and overview sections\""},{"id":"previous_cid","value":"QmNu9N8pc5a2t1VKzJdfBYFJPGfNtCz65VLTMxCFJs69ZA"}],"events":[{"id":"ee38b8d0-5050-4103-9e59-e51c448cac23","date":"2010-10","title":"Monerium EMI ehf. Registered","type":"CREATED","description":"Monerium EMI ehf., the issuing entity for EURe, was officially registered as a private limited liability company in Iceland.","link":null,"multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"a6af7246-fcb0-4ed0-bf3b-aeed36e7dfc3","date":"2019-06","title":"Monerium Authorized as an EMI","type":"DEFAULT","description":"Monerium became the first company authorized to issue regulated e-money on blockchains after receiving its EMI license from the Financial Supervisory Authority of the Central Bank of Iceland.","link":"https://monerium.com/","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"c2c798d4-d54e-4870-b371-538fdc4c3e5e","date":"2024-06","title":"EURe Launches on Noble","type":"DEFAULT","description":"EURe's native issuance on the Noble blockchain was announced, making it the first Euro-backed stablecoin available across the Inter-Blockchain Communication (IBC) protocol ecosystem.","link":"https://noble.xyz/eure","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"53ad7601-54df-4be5-b4e3-72eca3a60269","date":"2024-09","title":"Official Whitepaper Updated","type":"DEFAULT","description":"Monerium released an updated version of the EURe whitepaper to align with the Markets in Crypto-Assets (MiCAR) Regulation (EU) 2023/1114.","link":"https://monerium.com/whitepapers/eure-whitepaper/","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"operator":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum","polygon","arbitrum","scroll","cosmos","monerium"],"founders":["jon-helgi-egilsson","gisli-kristjansson","hjortur-hjartarson","sveinn-valfells"],"speakers":[]},"recentActivity":"{\"items\":[{\"id\":\"8271a701-a7c0-4391-9c0d-4872042dd131\",\"title\":\"EURe\",\"description\":\"EURe is a regulated e-money token (EMT) by Monerium, pegged 1:1 to the Euro. Compliant with MiCAR, it's fully backed by safeguarded assets and operates on blockchains like Ethereum and Polygon, bridging traditional finance with Web3.\",\"timestamp\":\"2025-12-09T22:40:16.758Z\",\"category\":\"Wiki Update\",\"status\":{\"icon\":\"RiGlobalLine\",\"label\":\"Wiki Updated\",\"iconClassName\":\"text-green-500\"},\"user\":{\"name\":\"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889\",\"address\":\"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2\"},\"button\":{\"label\":\"View Summary\",\"icon\":\"RiFileTextLine\"},\"summarySections\":[{\"title\":\"Content\",\"subtitle\":\"Added internal links to key terms throughout the article for better context and navigation.\",\"variant\":\"modified\",\"changeCount\":4,\"changes\":[\"In the 'Overview' section, links were added to terms such as 'blockchain', 'fiat', and 'mint'.\",\"In the 'Issuer and Regulatory Framework' section, links were added to 'Monerium', 'anti-money laundering (AML)', and 'Know Your Customer (KYC)'.\",\"In the 'Technology and Architecture' section, links were added to 'blockchain', 'Ethereum', 'Polygon', 'Gnosis', 'Noble', 'ERC-20', and 'smart-contract'.\",\"In the 'Financial Model' section, links were added to 'Monerium', 'fiat', 'mint', 'burn', and 'blockchain'.\"]}]}]}"}