Safe and Monerium to develop on-chain and off-chain euro payments

The digital asset-management platform Safe and the licensed money services provider Monerium have signed a partnership to promote off-chain and on-chain euro payments. The Block reports.

Regulated and compatible with Ethereum, Polygon and Gnosis, Monerium’s EURe stablecoin will be integrated into Web3-accounts from Safe. This will allow developers to link Web3 wallets to euro bank accounts using Safe{Core}.

The partners expect that this will create conditions for bringing digital assets worth $60 billion into Europe’s banking system.

According to Safe co-founder Lukas Shora, this will ease TradFi’s access to DeFi protocols and the use of IBAN accounts.

“Small teams will be able to create decentralized financial services that surpass the capabilities of users similar to Revolut,” explained Gisli Kristjansson of Monerium.

In June 2023, Safe integrated ERC-4337 into the account-abstraction stack for Safe{Core} version 1.4.1.

The Ethereum team deployed ERC-4337 on the mainnet in March 2023. The standard implements one of the ways to introduce account abstraction for a crypto wallet, turning it into a smart contract.