Membrane Finance, a Finnish fintech building a European alternative to the USD stablecoin, has been granted an Electronic Money Licence by the country's regulator and picked up €2 million in seed funding.
With the e-money licence secured, Membrane's product, called EUROe, becomes the first regulated EUR-based, full-reserve stablecoin in the EU.“We’ve been working towards this very goal for the last 18 months," says Juha Viitala, the CEO and co-founder of Membrane Finance. "Getting an EU-level license and the opportunity to finally build a truly regulated EUR-based stable coin is massive news for both us, and the wider European cryptocurrency market and community."
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