Monerium and Elliptic Partnership
Monerium, renowned for its EURe stablecoin, has joined forces with Elliptic, a leading company specializing in blockchain analytics, to enhance compliance protocols and facilitate real-time monitoring as part of its expansion into various blockchain ecosystems. This partnership is particularly timely, following Monerium’s recent achievement of a virtual asset service provider license, which has increased demand for their services.
Utilization of Elliptic’s Tools
In an announcement made to crypto.news, Monerium highlighted its strategy to utilize Elliptic’s suite of tools—Lens, Investigator, and Navigator—to streamline processes related to anti-money laundering (AML), real-time transaction oversight, and cross-chain investigations.
Gísli Kristjánsson, who co-founded and leads Monerium, emphasized that the integration of Elliptic’s advanced technology would empower their operations to effectively mitigate risks while ensuring stringent compliance and improving interoperability across diverse blockchain platforms.
This development is expected to boost trust and security for their customers significantly. Monerium claims an impressive transaction volume exceeding €4 billion, asserting that EURe stands as the most prevalent stablecoin in Europe, based on transaction metrics. The tools provided by Elliptic are anticipated to allow Monerium to decrease manual compliance checks by as much as 60%.
Strategic Alliance Remarks
Commenting on this strategic alliance, Jackson Hull, Elliptic’s Chief Technology Officer, noted that their collaborative efforts would assist Monerium in overcoming operational challenges, particularly in scalability, the detection of fraudulent activities, and maintaining transparency—all while ensuring the security of user information.
About EURe Stablecoin
The EURe stablecoin, which is pegged to euro-denominated deposits and integrates with the SEPA (Single Euro Payments Area) system, facilitates seamless euro transactions between traditional banking accounts and blockchain wallets. Currently, EURe can be utilized across several blockchain networks, including Ethereum, Polygon, Gnosis, Cosmos, and Noble.
