Gelato partners with Monerium to bring native EURe stablecoin to L2s

Gelato's Rollup as a Service(RaaS) allows developers to deploy tailor-made L2 chains effortlessly with just one click, complete with native Account Abstraction with +19 out-of-box infrastructure partners.

Monerium enriches Gelato’s Rollup Marketplace by providing a comprehensive platform for the management and automation of money flows on and off blockchains. Monerium is an onchain fiat infrastructure that enables the transfer of real money across blockchains to anyone, anywhere, anytime.

Monerium bridges the gap between traditional banking and decentralized finance (DeFi), providing a stable digital currency, the EURe, and services that facilitate easier and more integrated financial transactions for users.

• EURe, the onchain fiat stablecoin: The EURe is the first onchain euro. It is an authorized and overcollateralized euro token for web3 available on Ethereum, Gnosis, and Polygon that follows mainstream DeFi standards, such as ERC 20 and 1271, making it simple to manage and exchange using any web3 wallet.

• Seamless transfers of EUR between bank accounts and web3 wallets: With a Monerium web3 IBAN, you can receive euros from any bank account into any web3 wallet. All incoming euro payments are automatically minted as EURe tokens to the connected wallet. Sending EURe to bank accounts is just as easy. With a single signature from the wallet, the EURe is burned and sent as euros to any bank account.

• Payment API: The Monerium payment API provides access to services for managing accounts, receiving payment notifications, and initiating outgoing payments. Developers can build DeFi apps without worrying about fiat on-off-ramping or required licenses. Using Monerium's open and free API, developers can completely automate money flow in decentralized finance using regular money.

• Gnosis Pay: Gnosis Pay facilitates the conversion of digital assets to EURe, enabling efficient and direct settlements through the user's Monerium IBAN.

• Request Finance: Monerium's EURe facilitates seamless invoicing, payroll, and expense reimbursements for Web3 businesses using Request Finance, an all-in-one financial solution.

• Safe{Core} SDK Kit: Safe integrates Monerium's EURe to send e-money tokens directly to a bank account using its IBAN through the SEPA payment system.

• Regulatory Compliance: Monerium is an authorized and regulated Electronic Money Institution (EMI), providing services with legal clarity and security for users' funds within the European Economic Area, the UK, and Switzerland.

• Developer-Friendly Platform: With advanced RESTful APIs and a sandbox environment, Monerium offers a money-as-a-service platform that empowers developers to innovate and integrate financial solutions into their platforms seamlessly.

• Overcollateralized EURe Tokens: Each EURe token is backed by more than 100% in high-quality liquid assets, offering a secure and redeemable digital currency that diverges from traditional bank funds' lending practices.

Through the partnership between Gelato's RaaS and Monerium, dApps on Gelato L2 chains now have access to a stable and overcollateralized regulated digital currency that is recognized in both traditional and Web3 financial systems. For users, the partnership also simplifies the complex and inefficient process of transferring funds between traditional bank accounts and blockchain wallets.

Gelato is a Web3 Cloud Platform empowering developers to create automated, gasless, and off-chain-aware Layer 2 chains and smart contracts. Over 400 web3 projects rely on Gelato for years to facilitate millions of transactions in DeFi, NFTs, and gaming.

• Gelato RaaS: Deploy your own tailor-made ZK or OP L2 chains in a single click with native Account Abstraction and all Gelato middleware baked in.

• VRF: Gelato VRF provides fast, on-chain verifiable randomness for blockchain applications.

• Functions: Serverless, event-driven functions to automate blockchain transactions.

• Relay: Give your users access to reliable, robust, and scalable gasless transactions via a simple-to-use API.

• Account Abstraction SDK: Gelato has partnered with Safe, to build a fully-fledged Account Abstraction SDK, combining Gelato's industry's best gasless transaction capabilities, with the industry's most secure smart contract wallet.

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