HELSINKI, Finland – 19 January 2023 – Runtime Verification, a leading security company, has completed a security code audit for EUROe, the first EU-based regulated stablecoin. This makes EUROe the only Euro stablecoin to be audited by a leading security auditor. EUROe is expected to launch on Ethereum in Q1 2023.
“Membrane Finance, the issuer of EUROe, has been working on delivering a regulatory-compliant & secure stablecoin to the market since 2021. With the EMI licence secured last year and the confidence in our smart contract’s security after Runtime Verification’s code review, we are finally well set to launch”, explains Juuso Roinevirta, Head of Growth of Membrane Finance.
EUROe smart contracts are written in Solidity, a common Ethereum Virtual Machine (EVM) programming language. EUROe differs from most ERC20 tokens due to its role-based access control mechanisms that are used to control minting, burning, and other functions of EUROe. The roles are further secured by MPC technology and secure API access points.
“Security of EUROe is paramount to us, both from a regulatory and trust perspective”, comments Roinevirta. “Having a leading security auditor assessing our assumptions about the implementation, in addition to a long internal peer-review process, boosts our confidence to release the smart contracts to the wild and get ready to secure billions of euros”.
Membrane Finance’s EUROe is regulated as electronic money in the EU by the Finnish Financial Supervisory Authority. Membrane Finance expects to launch EUROe in Q1 2023.
More information
Juuso Roinevirta, Head of Growth, Membrane Finance, juuso.roinevirta@membrane.fi
Link to the audit report on Runtime Verification's GitHub
About Membrane Finance
Founded in 2021 in Finland, Membrane Finance is a financial technology company specialising in the development of financial software and services that seamlessly link traditional financial infrastructure and blockchain-based services. Membrane Finance is the principal architect of EUROe - an EU-regulated, full-reserve euro stablecoin that brings fiat euro liquidity on-chain. Membrane Finance’s mission is to foster financial innovation and inclusion on the blockchain by developing an ecosystem of secure money infrastructure, user-friendly applications and stablecoin-related services. www.membrane.fi
About EUROe
EUROe is the only EU-based stablecoin and payment network to be regulated as an electronic money institution in the European Union. Based in Finland, a leading European hub for technology & regulatory stability, EUROe is being built for tomorrow’s businesses today. www.euroe.com
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