Stablecoins represent the backbone of DeFi, allowing complex financial applications to be protected from external volatility. From fiat-backed to algorithmic, there are multiple approaches to issuing and backing stablecoins. While US regulations are looming over the crypto industry, Monerium released a fully regulated on-chain euro stablecoin, the EURe, enabling direct SEPA transfers, on- and off-ramp.

We were joined by Sveinn Valfells, CEO of Monerium, to discuss the European E-Money Directive and how it set the ground for fully regulated on-chain currencies (EURe) built on top of SEPA.

Topics covered in this episode:

• Sveinn’s background and building Monerium
• Regulated on-chain EUR and seamless SEPA on- and off-ramps
• How electronic money regulation differs from MiCA
• What assets back EURe
• Monerium’s business model
• EURe’s adoption compared with other stablecoins (USDC, USDT)
• Issuing other currencies on-chain
• CBDCs and the banking sector
• Challenges of building on SEPA
• IBAN discrimination
• KYC limitations
• DeFi and stablecoin backing
• Real world assets used as on-chain collateral

Episode links:

• Sveinn Valfells on Twitter
• Monerium on Twitter

This episode is hosted by Friederike Ernst & Sebastien Couture. Show notes and listening options: epicenter.tv/503