LCX Partners With Monerium to Offer Digital Euros
- The Liechtenstein Cryptoassets Exchange (LCX) will use Monerium’s infrastructure to launch new services.
- These include launching Monerium’s digital euro, adding fiat on-ramps, and developing tokenization solutions.
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According to the company’s press release, the Liechtenstein Cryptoassets Exchange (LCX) signed a memorandum of understanding with Monerium, a regulated e-money issuer, agreeing to form a long-term strategic partnership that will enable LCX to leverage some of the infrastructure provided by Monerium.
Namely, the alliance will enable LCX to offer digital Euros issued by Monerium within their exchange ecosystem. LCX said it also might list other digital fiat currencies issued by Monerium in the future. The exchange will further introduce a new fiat gateway and launch several EUR to crypto trading pairs.
In parallel with the launch of new features, LCX and Monerium will collaborate on developing new solutions for security token offerings and tokenization infrastructure. LCX said it will work on providing the first use-cases of Monerium’s new technology solutions.
“With this partnership, we are moving one step forward towards our vision to make money smarter to enable quick and hassle-free transactions without intermediaries,” said Jón Helgi Egilsson, the co-founder and chairman at Monerium.
LCX recently secured eight out of the eleven cryptocurrency-related licenses in Liechtenstein. Aside from classifying LCX as a regulated cryptocurrency exchange, the new licenses enabled the company to expand its services across Europe and the U.S.
- The bill will serve as the legal foundation for the European Central Bank’s ongoing technical work on a euro-based CBDC.
- The European Commission is also planning to call the public for comments next month on how the digital euro could be used.
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- Led by Euroclear, the CBDC trial was conducted with the help of Banque de France, BNP Paribas, Crédit Agricole CIB, HSBC, and Société Générale.
- As part of the test, almost 500 instructions in both primary and secondary markets were executed.
- LCX plans on launching a new set of token standards on Polkadot called the Liechtenstein Protocol.
- Parity Technologies will guide the company through the implementation process and help it grow its DeFi terminal Fire Salamander.