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e-Money stablecoin represents the next step in building collateralized stablecoins designed with DeFi capabilities.
To begin with, e-Money stablecoins avoid many of the problems and built-in instability seen with algorithmic stablecoins. Since the collateral matches the currency of issuance, the eEUR stablecoin is backed by Euros. This streamlined approach also makes fiat-backed stablecoins efficient and highly liquid.
Finally, e-Money stablecoins aim to maintain trust through E&Y quarterly audits that verify Proof of Funds. This is intended to provide confidence for anyone using the e-Money ecosystem.
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