- Polygon network is starting off great for Q3.
- It is doing so with the e-Money integration.
- This integration will bring European stablecoins to the platform.
As of late, it has been challenging to accept crypto payments and blockchain technology. Especially as the field expands and introduces many online platforms. Also, this expansion came with other physical assets, thus, creating a need for stablecoins.
The e-Money stablecoins include eEUR, eCHF, eSEK, eNOK & eDKK. The reason behind their debut on the platform is to encourage more users within the region to get onto the network. In detail, users can use their native currency to begin trading and transacting.
Additionally, these stablecoins are interest-bearing. Moreover, the interest earned from the underlying assets will be reflected within the token’s value. This means token holders can make financial gains on the network.
Finally, the quarterly audits from Ernst & Young will ensure the transparency and integrity of the e-Money stablecoins. All in all, this will guarantee Proof-of-Funds. Co-Founder of Polygon, Sandeep Nailwal says,
e-Money is a leader in the European blockchain industry and we’re excited to have e-Money issuing the eEUR, eCHF, eSEK, eNOK & eDKK on Polygon’s high-speed infrastructure, bringing access to a wide range of DeFi and financial services and strengthening stablecoin usage on Polygon.
Meanwhile, e-Money CEO and founder, Martin Dyring-Anderson is also keen on the integration. He believes that Polygon users will be happy with the European stablecoins’ benefits. Also, e-Money can now interact with Decentralized Finance applications as well as real-world economics which will help expand its user base.
Lastly, this integration of e-Money’s European stablecoins is a notable addition to the network’s roster of stablecoins. Overall, it offers European partners a chance to facilitate faster integrations while operating with their native currency in the crypto market.