Monei begins testing euro stablecoin

Monei, a European payment platform, has initiated test trials for EURM, its euro-pegged stablecoin, within the Bank of Spain's national financial sandbox.

The digital token, which is designed to maintain a stable value equal to the euro, will operate on both the Ethereum and Polygon blockchains.

This initial testing phase limits issuance to 10 EURM per a selected small group of users.

The introduction of EURM marks a significant step in exploring the potential of stablecoins and blockchain technology in the context of regulated financial systems.