e-Money's eEUR Becomes The First Stablecoin To Be Listed On Osmosis AMM Decentralized Exchange

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

e-Money, a Danish Fintech company and blockchain-based payment platform, has announced that its European stablecoin eEUR is the first stablecoin to be listed on Osmosis, ​​a Cosmos-based AMM platform with over $500 million in total value locked (TVL).  

e-Money’s European stablecoin eEUR on the Osmosis Decentralised Exchange (DEX) will encourage  users within the European region to join the platform and facilitate transactions using their native currency. This feature will also encourage  adoption in the European region as users will feel more confident trading with a currency they are familiar with and have access to.

While the stablecoin market is relatively new, it has enjoyed tremendous growth. In 2020 alone the aggregate market value of Ethereum-based stablecoins increased by 95.38% to reach $6.25 billion. However, the current stablecoins on the market are either collateral backed or algorithmic, each method comes with its own weaknesses.

e-Money’s innovative stablecoin aims to address these weaknesses by offering a solution that is fully backed by bank deposits and government bonds. e-Money also has multi-currency support, an interest bearing nature, the capability of immediate finality and settlement on the e-Money chain, near-zero transaction fees, and audits backed by Ernst & Young.

Together this partnership helps progress one of the DeFi industries main challenges and goals, which is to bring decentralized products to the masses in a community-governed manner. Thankfully, the general market has been extremely receptive to DeFi products as the once difficult learning curve has been simplified through convenient user experiences. 

The next step for e-Money and Osmosis includes eEUR liquidity pools on Osmosis DEX which are being established following e-Money’s mainnet V3 upgrade which took place on September 20, 2021. $NGM (e-Money’s native token) and stablecoins (notably eEUR) are now available on Osmosis and the Cosmos Hub.

Image by Luminas Art from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.