The world’s most traded assets are now available for DeFi

Trading EUR/USD with Monerium e-money tokens using Uniswap on Polygon

The most traded assets in the world’s largest market are now available for trading in decentralized finance.

At Monerium, we have previously issued both euros and dollars as EURe and USDe as e-money tokens on Ethereum.

In this DeFi demo we show you how to trade the most liquid asset pair, EUR/USD, in the world’s largest market, the global currency market (forex), using Monerium EURe and USDe. The demo makes use of the decentralized Uniswap trading protocol on the Polygon blockchain, exploiting the convenience of Uniswap and the speed and low cost of Polygon.

Forex is the world’s largest market with daily turnover in the trillions of dollars. It is a geographically decentralized market with major hubs in Asia, the UK, and the US. The largest participants are established financial institutions, like Deutsche, UBS, Citi, Barclays, and JP Morgan.

Decentralized trading applications, like Uniswap or Curve, open the possibility for many more participants to contribute liquidity, not only for the most traded global currencies, like the euro and the dollar, but also for the “fat tail” of the less liquid national currencies.

Improving liquidity in the world’s most traded markets helps reduce forex volatility and facilitates economic integration for the ultimate benefit of households and non-financial companies.

Monerium now supports the euro, the dollar, the sterling, and the Icelandic króna as EURe, USDe, GBPe, and ISKe tokens, respectively. And for the euro, we offer an IBAN for your Web3 wallet so you can use the euro in your wallet in the same way as a bank account.