The startup is a licensed financial institution that issues e-money tokens (EMTs) on blockchains, providing customers with bank accounts that integrate both traditional and decentralized finance. This platform enables users to transact without relying on fiat currencies, enhancing accessibility and efficiency in financial transactions.
Funding
$8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional financial systems often lack seamless integration with blockchain technology, creating friction for users seeking to bridge the gap between fiat currencies and decentralized finance (DeFi). Existing stablecoin solutions may not be fully authorized or regulated, posing risks to users and hindering wider adoption.
Solution
Monerium provides a platform for on-chain fiat, offering fully authorized and regulated electronic money tokens (EMTs) pegged to various fiat currencies, including the Euro (EURe). By issuing e-money tokens on public blockchains like Ethereum, Polygon, and Gnosis, Monerium enables instant transfers between traditional bank accounts and Web3 wallets. Users can receive a Web3 IBAN, automatically convert incoming euros to EURe, and seamlessly integrate the euro into DeFi applications. Monerium's solution ensures compliance with e-money regulations and provides a secure, transparent, and efficient way to transact with fiat currencies on-chain.
Target Audience
Monerium targets Web3 developers, DeFi users, and businesses seeking a compliant and efficient way to integrate fiat currencies into blockchain-based applications and financial services.
Features
- Issues EURe, GBPe, and USDe, fully backed 1:1 with the corresponding fiat currency
- Operates as an authorized and regulated Electronic Money Institution (EMI)
- Provides Web3 IBANs for instant transfers between bank accounts and Web3 wallets
- Supports ERC-20 and ERC-2612 token standards for compatibility with DeFi applications
- Offers a developer-friendly API for automating low-cost, cross-border payment flows
- Undergoes annual audits by KPMG to ensure regulatory compliance
- Safeguards user funds in segregated accounts with regulated financial institutions
- Provides a Dune Analytics dashboard for real-time monitoring of EURe issuance and redemption
- Smart contracts are audited by security firms like Ackee and Halborn