What Monerium does

Monerium hf. is an Icelandic-regulated Electronic Money Institution (EMI) and Virtual Asset Service Provider that issues fully reserved, MiCA-compliant onchain fiat tokens — primarily EURe (euro), with GBPe (pound), USDe (dollar), and ISKe (króna) also offered. Each token is backed 1:1 (overcollateralized) by high-quality liquid assets held in safeguarded accounts and issued as ERC-20 tokens across nine blockchain networks (Ethereum, Gnosis, Polygon, Arbitrum, Base, Linea, Scroll, Noble, Camino). The company's Web3 IBAN product bridges traditional SEPA banking with blockchain wallets, automatically minting EURe on inbound euros and burning it on outbound SEPA transfers, with consumer SEPA payments on Monerium infrastructure priced at zero.

Monerium operates an API-first go-to-market targeting developers and fintechs via three integration tiers (Private, Whitelabel, OAuth), embedded distribution through wallet partners (MetaMask, Safe, Gnosis Pay, Zeal), and DeFi protocol integrations (Aave V3, Balancer, CoW Swap, 1inch, Bebop, Barter, Finery Markets). Card issuer partnerships are a strategic focus: Gnosis Pay uses EURe as the Visa settlement layer and MetaMask Card uses it as the Mastercard top-up rail, both requiring real-time onchain wallet verification. To date, more than €8 billion has moved between banks and DeFi through EURe, and 2B+ EURe has been processed onchain.

Revenue mechanics are not publicly disclosed but concentrate in B2B commercial agreements (enterprise whitelabel and API contracts, card program partnerships) since consumer-facing EURe issuance/redemption is free. With 1-10 employees, ~$2.5M total disclosed equity raised across three funding events (lead investor Crowberry Capital in a 2019 round, with ConsenSys, ConsenSys Mesh, and Hof Holdings also participating), and no parent company, Monerium is a lean, founder-led (CEO Sveinn Valfells, CTO Gísli Kristjánsson) infrastructure provider positioned at the intersection of regulated banking and onchain finance in the EEA.

Name

Monerium

Legal name

Monerium hf.

Website

https://monerium.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Monerium is an Icelandic-regulated Electronic Money Institution issuing MiCA-compliant euro, pound, dollar, and króna stablecoins across nine blockchains, with a Web3 IBAN service linking SEPA banking to crypto wallets for B2B partners, card issuers, and DeFi protocols.

Ownership category

akta.pro rank

Product category

Regulated Stablecoin Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Depository Credit Intermediation (5221)

SIC

Finance Services (6199)

akta.pro primary industry

Stablecoin Issuers (Fiat-Backed) (FSADADAA)

akta.pro secondary industries

Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB)

Keywords

• Regulated stablecoin issuance
• Electronic money institution
• Onchain fiat payments
• Web3 IBAN services
• SEPA stablecoin rails

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Compliance/Regulatory

Revenue model

1. EURe On/Off-Ramp Transactions: Monerium enables users to convert between euros and EURe stablecoins. While the company states EURe payments are issued and redeemed 1-to-1 with euros and SEPA payments through EURe IBANs are free on the Monerium infrastructure, revenue may be generated through transaction fees on larger orders or commercial partnerships.
2. API and Integration Services: Monerium offers three integration plans: Private (direct API access), Whitelabel (embed regulated euro accounts under partner brand), and OAuth (user-authorized access). B2B partnerships with fintechs, wallets, and DeFi platforms generate revenue through commercial agreements.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Monerium issues regulated euro (EURe) and pound (GBPe) stablecoins as ERC-20 tokens under EU e-money law and MiCA, bridging traditional SEPA banking infrastructure with blockchain wallets via its Web3 IBAN service. The company enables instant minting and burning of e-money tokens and provides developer APIs, SDKs, and integration plans (Private, Whitelabel, OAuth) for fintech partners to embed regulated euro accounts, on/off-ramp functionality, and onchain payment rails.

Product overview

Monerium operates as an onchain fiat platform offering three integrated products: EURe (the primary MiCA-compliant euro stablecoin), GBPe (British pound stablecoin), and Web3 IBAN (linking bank accounts to blockchain wallets). The Monerium API and SDK enable developers to embed regulated euro payments into applications. EURe is available across 9+ blockchain networks (Ethereum, Polygon, Gnosis, Arbitrum, Base, Linea, Scroll, Noble, Camino) and integrates with leading DeFi protocols (Aave, Balancer, CoW Swap) and wallet providers (MetaMask, Safe, Gnosis Pay). The platform serves individuals (via IBAN and wallet apps), corporates, and developers building payment solutions.

Differentiator

Problem solved

Functional benefit

Brands

• EURe: MiCA-compliant euro stablecoin issued by Monerium, the first authorised onchain euro token backed 1:1 by euro reserves. Available on multiple blockchains including Ethereum, Polygon, Gnosis, Arbitrum, Base, and Linea.
• GBPe
• Web3 IBAN
• Monerium API

Products and services

• EURe
• GBPe
• Web3 IBAN
• Monerium API

Quantifiable outcome

• Over €8 billion moved between banks and DeFi
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and major.

• MetaMaskcoreTechnology or IntegrationMetaMask has integrated EURe enabling users to top up their MetaMask Card with euros via Monerium IBAN. EUR sent to the IBAN is instantly minted as EURe in the wallet and spendable on the MetaMask Card worldwide using Mastercard.
• SafecoreTechnology or IntegrationSafe (formerly Gnosis Safe) enables companies to manage treasury directly from their multisig wallet using EURe. Users can create a EURe IBAN, send/receive bank payments, and move funds between euros, EURe, and DeFi.
• Gnosis PaycoreStrategic or Co-development PartnerGnosis Pay uses EURe as the compliant euro settlement layer for their Visa card program. Cardholders receive EURe instantly when topping up via SEPA to their Monerium IBAN. Gnosis Pay settles with Visa using EURe through their own Monerium IBAN.
• AavemajorTechnology or IntegrationEURe is available on Aave V3 Gnosis for supplying and borrowing euros onchain. Users can earn yield or access euro liquidity while staying within the euro ecosystem.
• CoW SwapmajorTechnology or IntegrationEURe is tradable on CoW Swap, an intent-based DEX aggregator that sources liquidity from private market makers, solvers, and AMMs to provide best execution for euro trades.
• BalancermajorTechnology or IntegrationEURe is integrated with Balancer for trading and liquidity provision in decentralized exchanges, enabling users to swap between EURe and other assets.
• VisamajorChannel Partner/ Reseller/ DistributorVisa is the payment network used by Gnosis Pay cards, with EURe enabling instant euro settlement between blockchain wallets and Visa's payment rails.
• MastercardmajorChannel Partner/ Reseller/ DistributorMastercard is the payment network for MetaMask Card, with EURe enabling cardholders to spend stablecoins at any merchant accepting Mastercard worldwide.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Circle: Circle issues USDC and EURC, the most prominent USD and EUR stablecoins. It is the most direct competitor to Monerium in the regulated euro stablecoin space, with vastly greater capital, distribution, and institutional reach.
• Quantoz Payments: Quantoz Payments is a Dutch EMI issuing EURQ, a euro stablecoin for programmable payments, with a comparable regulated, fiat-backed model targeting similar developer and fintech customers.

Broad incumbents

• Tether: Tether issues USDT and EURT, and is the dominant stablecoin issuer by volume. While its euro product is far smaller than USDT, Tether is a broad incumbent competing for the same onchain fiat demand that EURe addresses.
• Société Générale-Forge: Société Générale-Forge issues EURCV, a bank-issued euro stablecoin on Ethereum. As a regulated credit institution, it competes directly for institutional and corporate euro onchain settlement demand, with deeper balance-sheet backing.
• Paxos: Paxos is a regulated trust/EMI that has issued regulated stablecoins (USDP, PYUSD issuance) and provides tokenization infrastructure. It is a broad incumbent with overlapping regulated e-money and stablecoin issuance capabilities relevant to Monerium's positioning.
• Stripe (via Bridge): Stripe's acquisition of Bridge positions it as a broad incumbent in stablecoin orchestration and issuance. While not a euro specialist, Stripe's distribution and developer ecosystem make it a strategically relevant comparable for Monerium's B2B API-driven model.

Emerging players

• StablR: StablR is an EU-licensed issuer of euro and USD stablecoins targeting fintech and B2B payments. It is an emerging direct competitor with a similar regulated issuance model and focus on European payment use cases.
• Stables: Stables is an emerging regulated stablecoin issuer focused on everyday euro and USD payments via card and onchain rails, competing for the same fintech and consumer wallet distribution as Monerium.
• AllUnity: AllUnity is a Deutsche Börse-backed joint venture launching a regulated euro stablecoin. As a well-capitalized emerging entrant, it represents a credible future competitor for the same EEA euro onchain money market.
• Mt Pelerin: Mt Pelerin is a Swiss-regulated fintech offering tokenized traditional assets and euro on/off-ramps. It overlaps with Monerium in bridging SEPA banking and blockchain wallets, serving a similar developer and individual user base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/monerium
• GitHubgithub.com/monerium
• LinkedInlinkedin.com/company/monerium
• Facebookfacebook.com/monerium

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds3 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Monerium