Polygon Labs Launches EUROe: A Digital Euro on GEN-X Network

Introducing EUROe: A Digital Euro

Polygon Labs has unveiled EUROe, a digital euro designed to facilitate rapid transactions within its ecosystem. This innovative currency operates on the GEN-X network and aims to transform business transactions by offering seamless, lightning-fast settlements.

Partnership and Regulation

The launch of EUROe is a collaborative effort with deltaDAO and Membrane Finance, positioning it as the primary settlement token. Notably, EUROe is the only EU-regulated full-reserve stablecoin, ensuring compliance and security. This collaboration introduces the first EU-regulated stablecoin to the GEN-X test network, enhancing the Web3 ecosystem for Gaia-X participants.

Enhancing Transaction Efficiency

EUROe is engineered to enable near-instant settlements for business transactions. It supports AI, data, and infrastructure service transactions within the GEN-X network. The stablecoin's design emphasizes portability, transparency, interoperability, and data sovereignty. By minimizing third-party risks and reducing reliance on intermediaries, EUROe simplifies cross-border settlements, lowering costs and improving efficiency.

Seamless Integration and Interoperability

EUROe facilitates seamless application integration into the network, promoting high interoperability. Users benefit from a streamlined payment process without the need to manage multiple providers. Membrane Finance, registered as an electronic money institution in the EU, ensures each EUROe is backed by one fiat Euro, maintaining financial stability and trust.

Conclusion

The launch of EUROe marks a significant step forward for digital transactions within Polygon's ecosystem. By combining regulatory compliance with technological innovation, EUROe offers enterprises a secure and efficient solution for settling transactions in the digital age.