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Monerium discusses the “simple“ route to a digital euro in Europe

 
Monerium discusses the “simple“ route to a digital euro in Europe
Breaking News / Crypto Market

Quick take

1 minute read

  • The European Central bank has recently claimed that the development and creation of a digital euro would be a tough task to uphold. 
  • However, according to Monerium, they believe that this route is much simpler than the bank is letting on.

The European Central bank has recently claimed that the development and creation of a digital euro would be a tough task to uphold. However, according to Monerium, they believe that this route is much simpler than the bank is letting on.

A public response was published by the financial technology company in the guards to their recent public consultation on a digital euro earlier this week on the 13th of October.

For those that don’t know, Monerium became one of the first companies internationally to become licensed from regulators in Iceland as a part of the new European regulatory framework for electronic money services across the European economic area. Italian not only did this provide. Not only did this provide payment services for Fiat currencies using the Ethereum blockchain, but it later teamed up with the blockchain protocol Algorand.

The financial technology company that primarily looks into bridging the gap between Fiat money and the blockchain by issuing programmable digital cash said in its response to the European Central bank as all of Europe needs to do its part to acknowledge that it already has a “proven form of a digital euro“.

“The only thing that the ECB needs to do to give e-money comparable status to physical cash is to grant e-money issuers access to the ECB’s reserves.”

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