Monerium

Monerium specializes in providing financial services through its EURe stablecoin, enabling efficient and regulated transactions on the blockchain for businesses and individuals alike. Founded in 2015 in Reykjavik, Iceland, Monerium is focused on bridging traditional finance with blockchain technology through its EURe stablecoin. The company is co-founded by Gísli Kristjánsson, Hjörtur Hjartarson, Jon Egilsson, and Sveinn Valfells, with Sveinn Valfells serving as CEO. Monerium raised USD 2 million in Seed funding in January 2019, led by Crowberry Capital, with participation from ConsenSys Ventures and Hof Holdings, bringing the total amount raised to USD 2 million.

Monerium offers a suite of financial services centered around its flagship product, the EURe, a fully authorized and regulated stablecoin designed to facilitate fast and cost-effective transactions across the blockchain. The EURe operates as an ERC20 token, enabling seamless transfers between off-chain bank accounts and on-chain web3 wallets, addressing the gap in EUR-backed digital assets in the market. This product is aimed at individuals and businesses looking for rapid, low-cost payment solutions, leveraging the SEPA banking infrastructure for enhanced functionality. Monerium's services are integrated with popular blockchain networks including Ethereum, Polygon, and Gnosis, allowing for cross-chain transfers and interoperability.

The company primarily serves clients within the European Economic Area, providing legal clarity and security for their financial transactions. Monerium generated no revenue in the most recent year of 2018 but reported an EBITDA of USD -277,421. 3 in 2023. The firm generates revenue through transaction fees associated with its stablecoin services and API offerings, allowing businesses to design cost-effective payment systems tailored to their needs.

Each transaction involving the EURe incurs a fee, contributing to Monerium's revenue from its comprehensive suite of services. Monerium aims to expand its product offerings and geographic reach, with a focus on new markets. The recent Seed funding of USD 2 million will support the introduction of new services and enhance current offerings. The company is targeting growth within the European Economic Area and plans to explore opportunities for further expansion into other regions by the end of 2023.