Elliptic and Monerium Team Up for Enhanced Compliance in Europe’s EURe Stablecoin Market
In a significant move for the digital finance landscape, Elliptic, a leader in digital asset decision-making, has announced a strategic partnership with Monerium, an authorized Electronic Money Institution (EMI). This collaboration aims to enhance compliance and regulation pertaining to the EURe stablecoin and other financial products. Founded in 2013 and headquartered in London, Elliptic has made its mark by leveraging blockchain data insights to support businesses in navigating the complexities of digital asset transactions. Monerium, on the other hand, has a pioneering reputation, being the first entity to receive an EMI license in 2019, enabling it to issue electronic money on blockchain platforms.
The landscape for stablecoins is evolving rapidly, particularly within European markets. Monerium has made waves with its EURe stablecoin, which facilitates seamless cross-border payments between traditional fiat banking systems and blockchain ecosystems. With more than €4 billion transacted, it has swiftly become a frontrunner in Europe by transaction volume, but staying compliant within the framework of the updated MiCA regulations poses ongoing challenges.
To address these challenges, Monerium has incorporated Elliptic’s Lens, Investigator, and Navigator tools into its operations. These cutting-edge solutions provide automated Anti-Money Laundering (AML) screening and enable real-time monitoring of transactions, ensuring that Monerium can handle high volumes safely. The collaboration begins to set a new standard for how stablecoin issuers can manage their regulatory responsibilities while promoting growth in the digital currency space. By employing Elliptic's advanced tools, Monerium can actively monitor the EURe ecosystem, maintaining integrity and mitigating misuse risks once the currency is in circulation.
Gísli Kristjánsson, Co-Founder and CEO of Monerium, acknowledged the multifaceted challenges of operating as a stablecoin issuer, emphasizing the need for stringent compliance and risk management strategies. “The integration of Elliptic's technology allows us to enhance our operational efficiency and build the trust that is fundamental between us and our customers,” shared Kristjánsson
The need for streamlined compliance processes is underscored as stablecoins become increasingly integral to connecting traditional finance with digital assets. Elliptic’s analytics capabilities span across over 50 different blockchains, facilitating Monerium’s strategic compliance measures tailored to diverse client needs. This integration significantly minimizes manual compliance efforts and includes customizable risk assessment frameworks. Real-time monitoring improves Monerium’s responsiveness to any emerging high-risk activities, supporting the ambitious growth outlook for their digital finance services.
Jackson Hull, CTO at Elliptic, voiced the necessity for adaptability in compliance strategies as digital asset regulations continue to tighten globally. He emphasized that blockchain ecosystems, particularly Euro-denominated stablecoins, have become essential for institutional entry into digital currencies. Hull believes that leveraging Elliptic's extensive experience in blockchain analytics empowers Monerium to navigate regulatory landscapes effectively, assuring transaction transparency and sustainability in operations.
With an eye towards the future, Monerium can not only scale its operations but can also remain vigilant against potential fraud and security threats that typically accompany the cryptocurrency landscape. In this partnership, both companies are committed to leading the charge in responsible financial innovation, where compliance does not hinder progress but serves as a foundation for it.
For more information about Elliptic, visit Elliptic.
Elliptic offers the most comprehensive platform for extracting crucial crypto data across various blockchains. Renowned for its uptime and scalability, the platform meets the compliance, risk management, and blockchain infrastructure needs of various organizations. Elliptic operates internationally, with offices in several major cities, including New York, Washington D.C., Dubai, Singapore, and Tokyo.
Founded with the vision of empowering peer-to-peer transactions without intermediaries, Monerium is dedicated to facilitating the integration of digital and traditional financial systems. As a regulated Electronic Money Issuer, it enables seamless transitions between blockchain and bank accounts, opening up new horizons for digital finance.
The landscape for stablecoins is evolving rapidly, particularly within European markets. Monerium has made waves with its EURe stablecoin, which facilitates seamless cross-border payments between traditional fiat banking systems and blockchain ecosystems. With more than €4 billion transacted, it has swiftly become a frontrunner in Europe by transaction volume, but staying compliant within the framework of the updated MiCA regulations poses ongoing challenges.
To address these challenges, Monerium has incorporated Elliptic’s Lens, Investigator, and Navigator tools into its operations. These cutting-edge solutions provide automated Anti-Money Laundering (AML) screening and enable real-time monitoring of transactions, ensuring that Monerium can handle high volumes safely. The collaboration begins to set a new standard for how stablecoin issuers can manage their regulatory responsibilities while promoting growth in the digital currency space. By employing Elliptic's advanced tools, Monerium can actively monitor the EURe ecosystem, maintaining integrity and mitigating misuse risks once the currency is in circulation.
Gísli Kristjánsson, Co-Founder and CEO of Monerium, acknowledged the multifaceted challenges of operating as a stablecoin issuer, emphasizing the need for stringent compliance and risk management strategies. “The integration of Elliptic's technology allows us to enhance our operational efficiency and build the trust that is fundamental between us and our customers,” shared Kristjánsson
The need for streamlined compliance processes is underscored as stablecoins become increasingly integral to connecting traditional finance with digital assets. Elliptic’s analytics capabilities span across over 50 different blockchains, facilitating Monerium’s strategic compliance measures tailored to diverse client needs. This integration significantly minimizes manual compliance efforts and includes customizable risk assessment frameworks. Real-time monitoring improves Monerium’s responsiveness to any emerging high-risk activities, supporting the ambitious growth outlook for their digital finance services.
Jackson Hull, CTO at Elliptic, voiced the necessity for adaptability in compliance strategies as digital asset regulations continue to tighten globally. He emphasized that blockchain ecosystems, particularly Euro-denominated stablecoins, have become essential for institutional entry into digital currencies. Hull believes that leveraging Elliptic's extensive experience in blockchain analytics empowers Monerium to navigate regulatory landscapes effectively, assuring transaction transparency and sustainability in operations.
With an eye towards the future, Monerium can not only scale its operations but can also remain vigilant against potential fraud and security threats that typically accompany the cryptocurrency landscape. In this partnership, both companies are committed to leading the charge in responsible financial innovation, where compliance does not hinder progress but serves as a foundation for it.
For more information about Elliptic, visit Elliptic.
About Elliptic
Elliptic offers the most comprehensive platform for extracting crucial crypto data across various blockchains. Renowned for its uptime and scalability, the platform meets the compliance, risk management, and blockchain infrastructure needs of various organizations. Elliptic operates internationally, with offices in several major cities, including New York, Washington D.C., Dubai, Singapore, and Tokyo.
About Monerium
Founded with the vision of empowering peer-to-peer transactions without intermediaries, Monerium is dedicated to facilitating the integration of digital and traditional financial systems. As a regulated Electronic Money Issuer, it enables seamless transitions between blockchain and bank accounts, opening up new horizons for digital finance.
Topics Financial Services & Investing）
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