According to a recent announcement, Membrane Finance, a Finnish fintech company, has launched a fully-reserved euro stablecoin on the Ethereum network. Membrane Finance claims that the stablecoin, known as EUROe, is the first and only EU-regulated stablecoin. 

It bears mentioning that USDC issuer Circle Inc. had previously launched a euro-backed stablecoin, dubbed Euro Coin (EUROC), in the United States in June. However, while Euro Coin is custodied by U.S.-regulated entity Silvergate Bank, the fiat backing EUROe will be held in an unnamed European financial institution. 

(By LELE JIMA)