Stablecoin issuer e-Money announced it is launching a suite of European-currency stablecoins on the Avalanche blockchain.
According to an announcement of the Avalanche blog, e-Money plans on issuing digital Euros (EUR), Swiss Francs (CHF), Norwegian Krone (NOK), Swedish Krona (SEK), and Danish Krone (DKK).
The company will launch the stablecoins on Avalanche’s Contract Chain, called C-Chain. Users will be able to buy and sell the stablecoins through the e-Money wallet, either with credit cards or direct bank transfers.
In addition to the stablecoins, the company will also launch a bridge between e-Money and Avalanche, allowing tokens to flow seamlessly between two networks. All of the stablecoins issued on Avalanche can be traded on the e-Money DEX.
Aside from the five newly announced tokens, Avalanche also has two more stablecoins issued on its network—TrueUSD (TUSD) and BiLira (TRYB).
“Not only is this growing roster of stablecoins a critical addition to the rapidly expanding DeFi ecosystem on Avalanche, but it will also be a leap forward in the utility of stablecoins more broadly,” Avalanche said in the announcement.