By Kimberly Crain
A statement from Polygon Labs dated March 13 revealed that the firm has teamed up with Membrane Finance and deltaDAO to launch a unique digital token EUROe, featured on the Generation-X platform. The team plans to integrate innovative features on the token to provide the users with a friendly settlement method.
Also, the team has tried to conform with the EU regulations to develop a stablecoin that will uphold compliance and meet the market demands.
Features of EUROe
According to the press release, the European bloc’s regulatory watchdogs will consider the EUROe stablecoin registered under the Electronic Money Institution (EMI). The regulators will allow the EUROe to be traded for other fiat currencies the European financial providers provide.
The team behind the EUROe agreed to adopt the supernets developed by Polygon labs to create a generation-X network. Per the partnership report, the team leveraged their technologies, including the Gaia-X, to provide the user with a seamless transaction.
Also read:The Gaia-X platform has distinctive features for supporting different data input and output infrastructures. Notably, diverse manufacturing and processing firms have utilized the Gaia-X technologies to create more value for the firms.
The Gaia-X program has over 365 members from corporate and 21 government agencies in the European market. Besides the Gaia-X technologies, the team utilized deltaDAO expertise, Ocean protocol technologies, and Polygon supernets to improve the service delivery in diverse industries and address the market gaps in Europe.
According to the press release, EUROe transactions will be cheaper than traditional payment methods. The development made by the team aims at improving the GEN-X network to meet the needs of the digital economy.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.