e-Money has announced that they will integrate with the Polygon Network in the third quarter of 2021. Acceptance of cryptocurrency payments and blockchain technology has recently increased exponentially across online platforms and physical assets, highlighting the need for more of stablecoins in other currencies. e-Money has successfully filled that void.
According to repos by IBS Intelligence, the Polygon Network will support the European stablecoins eEUR, eCHF, eSEK, eNOK, and eDKK issued by e-Money, encouraging more users in the region to join the network and use their native currency to facilitate transactions.
These stablecoins also bear interest, implying that the interest earned on the underlying assets is reflected in the token’s value, allowing token holders to profit financially. In addition, quarterly audits by Ernst & Young will ensure the integrity and transparency of e-Money stablecoins, ensuring Proof of Funds.
“We are very excited to integrate with the Polygon Network to bring e-compliant Money’s European digital currencies to a broader audience,” said Martin Dyring-Anderson, CEO and Founder of e-Money. We believe that having European stablecoins, rather than just USD-denominated stablecoins, will benefit Polygon users. This integration will allow e-Money to interact with real-world economies and DeFi applications, increasing our user base and solidifying our position as a leading issuer of trustworthy stablecoins.”
The addition of e-European Money’s stablecoins to Polygon’s stablecoin portfolio will be important. It will also allow for faster integrations with European partners seeking native currency options for the markets in which they operate.
The fast growth in the Stablecoins as a a means of transaction is due to is less volatility. While others forms of cyptocurrencies are prone to huge swings in prices. It tends to be more dependable as regards predictability.
The addition of e-European Money’s stablecoins to Polygon’s portfolio will be significant. It will also allow for faster integrations with European partners seeking native currency options for the markets in which they operate.