Stablecoin issuer Monerium taps Elliptic for cross-chain AML screening of euro tokens

Monerium has teamed up with the Blockchain Elliptic analysis company to stimulate compliance and real -time surveillance of its stablecoin Eure.

Monerium, the Eure transmitter stableCombines with the judicial firm of the Elliptical British Blockchain to strengthen its compliance systems and manage regulatory risks when it extends services in blockchain networks.

In a press release shared with Crypto.News, Monerium said that this decision aligns with its efforts for Meed more requests following its recent approval of a virtual asset service provider. To support this growth, the company will use the objects of objective, investigator and browser of elliptic anti-flow Screening, real -time surveillance and transversal investigation, the press release reads.

Gísli Kristjánsson, co-founder and CEO of Monerium, said that Elliptic technology provides the Stablecoin issuer with the tools “to mitigate risks, ensure compliance and improve interoperability in several blockchain networks, improve the confidence and security that we offer to our customers.”

Monerium claims that it has treated more than 4 billion euros in volume of transactions and claims that the stablecoin most widely used in Europe by this measure. It is expected that with the elliptical, the new conformity tools could help Monerium to reduce manual checks up to 60%.

The Elliptical CTO Jackson Hull, commenting on the partnership, said that Monerium will now be equipped to “manage operational obstacles, including the scalability of conformity, the identification of fraudulent activities and the maintenance of transparency while protecting user data.”

Eure is supported by deposits denominated in euros and connected to the SEPA system, allowing transfers to euros between blockchain portfolios and traditional bank accounts. At the time of the press, Stablecoin is available on Ethereum, Polygon, Gnose, Cosmos and Noble Networks.