Newrails Launches MiCA-Compliant Euro Stablecoin on Monad

Newrails, an electronic money institution regulated by the Bank of Lithuania, has announced the launch of a MiCA-compliant euro stablecoin, EURW, on the Monad platform. According to ChainCatcher, Newrails holds dual licenses as a Lithuanian Electronic Money Institution (EMI) and a Czech Virtual Asset Service Provider (VASP). Each EURW token is backed 1:1 by euro reserves, allowing token holders to exchange them for fiat euros without fees at any time. The stablecoin aims to provide production-grade infrastructure for Web3 developers, payment developers, and RWA teams.