Monerium has announced a new partnership with Elliptic, a leading blockchain analytics firm, to enhance compliance and real-time monitoring for its EURe stablecoin.
The collaboration between Monerium, the issuer of EURe, and Elliptic aims to strengthen compliance systems and manage regulatory risks as the stablecoin expands its services across various blockchain networks.
According to a press release from Monerium, the partnership will leverage Elliptic’s Lens, Investigator, and Navigator tools for automated anti-money laundering screening, real-time monitoring, and cross-chain investigation to support the company’s growth following its recent virtual asset service provider license approval.
Gísli Kristjánsson, co-founder and CEO of Monerium, expressed confidence in Elliptic’s technology, stating that it will help mitigate risks, ensure compliance, and enhance interoperability across multiple blockchain networks, ultimately enhancing trust and security for customers.
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Monerium has processed over €4 billion in transaction volume and asserts that EURe is the most widely used stablecoin in Europe. The integration of Elliptic’s compliance tools is expected to streamline processes and reduce manual checks by up to 60%.
Elliptic CTO Jackson Hull emphasized the value of the partnership, noting that Monerium will now be better equipped to manage operational challenges, scale compliance efforts, identify fraudulent activity, and maintain transparency while protecting user data.
EURe, which is backed by euro-denominated deposits and linked to the SEPA system, enables seamless euro transfers between blockchain wallets and traditional bank accounts. The stablecoin is currently supported on Ethereum, Polygon, Gnosis, Cosmos, and Noble networks.
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