What is Monerium? DeFi Protocol Guide

Monerium operates as a regulated electronic money institution headquartered in Iceland and issues fiat currencies on-chain, with EURe serving as its primary euro-backed e-money token. Its systems link conventional banking infrastructure such as SEPA to public blockchains, allowing euro transfers to occur in a manner that conforms with European Union e-money and crypto-asset regulations.

Overview

Monerium functions as an Electronic Money Institution offering a framework for moving euros between conventional bank accounts and Web3 environments. The EURe token denotes regulated e-money on blockchains including Ethereum, Polygon, and Gnosis, and each token is backed by more than 100% in liquid assets kept in segregated accounts. The platform enables immediate euro movements between off-chain accounts and on-chain wallets, supports Web3 IBANs for direct bank-to-wallet transfers, and exposes APIs to automate payments and build tools like cross-border transfers and payroll. Monerium maintains a regulated compliance structure under EU e-money and crypto-asset rules and provides a sandbox for integration testing without real-world exposure.

Products and Services

E-money is a regulated digital representation of fiat currency that is treated in the European Union as the digital equivalent of cash and exists on a one-to-one basis with the underlying fiat. It predates contemporary stablecoins and is already implemented by major fintech firms for payments and online financial offerings. Only authorized institutions may issue e-money, which must be completely backed by safeguarded customer funds placed in segregated accounts or by qualifying liquid assets, kept separate from the issuer’s own resources. These protections provide customers with a priority claim in the event of issuer insolvency. E-money serves as a transferable medium of exchange appropriate for on-chain use and aligns with the EU’s Market in Crypto-Assets framework. Issuers are subject to reporting, audit, and compliance obligations, oversight from their supervising authority, and must hold reserves with regulated European banks or asset managers to satisfy redemptions.

EURe denotes a digital claim on euros held in safeguarded accounts and is backed 1:1 by deposits or eligible high-quality liquid assets. Holders of EURe do not earn interest or returns on safeguarded funds, per the prohibition in MiCAR. The supply of EURe grows with customer deposits and contracts via redemptions, with on-chain burning removing tokens from circulation. Transfers of EURe transfer redemption rights to the recipient address, provided the recipient is accepted as a Monerium customer. Tokens may be frozen if associated with blacklisted addresses. EURe is not included in investor compensation or deposit guarantee schemes but remains fully backed by safeguarded assets. As of the whitepaper date, EURe had not been admitted to trading on third-party platforms, although secondary market activity may occur without issuer involvement.

Technical infrastructure

Funding

In January 2019, Monerium raised $2 million in seed funding, a round led by Crowberry Capital. Additional investment came from ConsenSys via its Coven co-ventures initiative and from Hof Holdings. The capital was allocated to speed up the build-out of Monerium’s infrastructure for issuing regulated e-money on blockchains, and arrived while the company was preparing to obtain a licence as a financial services provider in the EEA.

Partnerships

• Gnosis
• Taavet Sten
• Crowberry Capital
• Consensys Mesh
• Algorand
• Request
• HOF Investment
• Technology Development Fund
• Agreena
• Tokeny Solutions