• 13 July, 2024
News

EUROe on Gaia-X Web3 via DeltaDAO, Membrane Finance, Polygon Labs

EUROe stablecoin comes to Gaia-X web3 via deltaDAO, Membrane Finance, and Polygon Labs’ partnership. Finland-based fintech firm Membrane Finance and deltaDAO, based in Germany, strike a partnership to bring EUROe stablecoin to Gaia-X. EUROe, the sole EU-regulated stablecoin, is now GEN-X network’s primary settlement token.

While GEN-X is the web3 ecosystem built with Polygon Supernets, it is designed for Gaia-X, the European AI and data infrastructure. Sharing the breaking news, Polygon tweeted:

The EUROe token launch shall boost “digital txn at lightning speed for enterprises in the Polygon ecosystem,” per Polygon. In a series of tweets, Polygon states the EUROe would enable businesses and organizations to eliminate third-party risks and intermediaries to further an “affordable and streamlined cross-border settlement process.”

The functionality in question is vital as increasingly companies are “operating in multiple jurisdictions.” The deltaDAO, MembraneFinance, and Polygon Labs partnership stands to utilize the Polygon Supernet and Ocean Protocol technology. By doing so, these entities intend to “connect traditional industries with the fastest-growing industries in the #Web3 ecosystem.”

The EUROe launch stands to boost the Polygon ecosystem as it benefits from getting a robust  “tool for enabling decentralized data & AI marketplace transactions across Europe & beyond,” per Polygon.

Kai Meinke, Co-Founder & Business Lead, deltaDAO, said, Europe must overcome the imbalances of its current market and be more digitally competitive to compete on the world stage.

Integrating EUROe into the GEN-X network brings us one step closer to creating a seamless and frictionless digital economy that gives all participants a competitive advantage compared to platform solutions that use a fragmented payment approach.

By giving back control to Gaia-X participants and removing unnecessary settlement intermediaries, we’re supporting the goal to enable more sovereignty in the market.

EUROe is accessible to “large enterprises on private blockchains and non-blockchain environments.”

Rebecca Rettig, Chief Policy Officer, Polygon Labs, states, GEN-X and the implementation of a regulated, Euro-backed stablecoin is a favorable development in enabling a European data marketplace, which highlights the import of this technology.

These types of use cases underscore the benefits of responsible innovation. Positive regulatory guardrails will only further benefit the industry, and allow for this technology to flourish.

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