The project, which is being spearheaded by MONEI, a regulated fintech payments company, will allow users to issue their own euro stablecoins for different purposes.
The program, which MONEI, a fintech institution, is launching, will allow users to issue digital euros with fiat deposits in order to experiment with these in payment applications, increasing their transparency.Europe is becoming a hotspot for stablecoins and CBDC experimentation. On Jan. 19, the Bank of Spaina pilot program that involves the issuance of euro-pegged digital tokens.
The test encompasses the issuance of up to 570 million eurm because Spain has 57 million phone lines subscribed. These funds will be held in two accounts in two financial institutions, BBVA and Caixabank, managed by MONEI.MONEI is profiling its digital euro stablecoin as part of its modernization take on the payments in the Eurozone, increasing the speed of payments while cutting operational costs linked to them.
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