Monerium is partnering with blockchain analytics company Elliptic to increase compliance and real-time monitoring for its Eure Stablecoin.
Monerium, publisher of Eure Stablecoin, works with UK blockchain forensics company Elliptic to manage regulatory risks as it strengthens its compliance system and expands services across its blockchain network.
In a press release shared with Crypto.News, Monerium said that efforts and movements are consistent with the efforts to drive more demand following the recent approval of its virtual asset service provider license. To support its growth, the company will use Elliptic lenses, investigators and navigator tools to read the press release for automated money laundering screening, real-time monitoring and cross-chain investigations.
Gísli Kristjánsson, co-founder and CEO of Monerium, said Elliptic's technology will provide Stablecoin publishers with the tool “mitigating risk, ensuring compliance, increasing interoperability across multiple blockchain networks, and enhancing trust and security that they provide to their customers.”
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Monerium handles trading volumes of over 4 billion euros, claiming that Eure is the most widely used in Europe on that scale. With Elliptic, the new compliance tool is expected to help Monerium reduce manual checks by up to 60%.
Commenting on the partnership, Elliptic CTO Jackson Hull said Monerium will be equipped to “manage operational hurdles such as compliance scalability, identification of fraudulent activities, and maintain transparency during user data protection.”
The Eure is supported by euro-denominated sediments and is connected to the SEPA system, allowing for euro transfers between blockchain wallets and traditional bank accounts. At the time of reporting, Stablecoin is available on Ethereum, Polygon, Gnosis, Cosmos and Noble Networks.
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