Monerium and Safe Team Up to Develop On-chain Payments in EUR

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Safe and Monerium have partnered to promote both off-chain and on-chain payments in euros using Monerium’s EURe stablecoin, integrated into Safe’s Web3 accounts.

This will make it easier for developers to link their Web3 wallets to their euro bank accounts through the Safe{Core} toolkit, and is predicted to allow the entry of roughly $60 billion of digital assets into the European banking system.

According to Safe co-founder Lukas Schor, this access will make it simpler for users to access DeFi protocols with their TradFi IBAN accounts.

Gísli Kristjánsson of Monerium added that this will allow small teams to create services that are superior to those of companies like Revolut.

In June 2023, ERC-4337 was integrated into Safe’s account abstraction stack with the version 1.4.1 update of Safe{Core}.

This was made possible by Ethereum deploying ERC-4337 on the mainnet earlier that year in March, which enables the conversion of a crypto wallet into a smart contract.