Sveinn Valfells: Monerium – Regulated On-Chain Euro (EURe) #503
Channel: Epicenter Podcast
Date: 2023-07-07

Stablecoins represent the backbone of DeFi, allowing complex financial applications to be protected from external volatility. From fiat-backed to algorithmic, there are multiple approaches to issuing and backing stablecoins. While US regulations are looming over the crypto industry, Monerium released a fully regulated on-chain euro stablecoin, the EURe, enabling direct SEPA transfers, on- and off-ramp.

We were joined by Sveinn Valfells, CEO of Monerium, to discuss about the European E-Money Directive and how it set the ground for fully regulated on-chain currencies (EURe) built on top of SEPA.

Topics discussed in this episode:
0:00 - Introduction
0:48 - Sveinn’s background and building Monerium
5:05 - Regulated on-chain EUR and seamless SEPA on- and off-ramps
14:22 - How electronic money regulation differs from MiCA
20:43 - What assets back EURe
21:45 - Monerium’s business model
25:05 - EURe’s adoption compared with other stablecoins (USDC, USDT)
29:29 - Issuing other currencies on-chain
31:09 - CBDCs and the banking sector
38:36 - Challenges of building on SEPA
44:21 - IBAN discrimination
49:52 - KYC limitations
51:19 - DeFi and stablecoin backing
55:28 - Real world assets used as on-chain collateral

Links mentioned in this episode: 
- Sveinn Valfells on Twitter: bit.ly/3Nzwhfa
- Monerium on Twitter: bit.ly/44dYE9T

This episode is hosted by Friederike Ernst & Sebastien Couture. Show notes and listening options: https://epicenter.tv/503