The aim is to increase liquidity for various DeFi applications built on Algorand that are looking for local currency options across Europe. This in turn will also help drive the use of Algorand-based applications among European investors.

Aside from direct purchases via eMoney, these Algorand-compliant European stablecoin offerings will make way for several other decentralized exchanges (DEXs) in the coming days. This will help increase the supply in circulation. Speaking of development.

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