Mento Euro

Unlike its fiat-backed euro peers, Mento Euro holds its value with crypto collateral rather than bank deposits. It grew out of cEUR, the euro stablecoin native to the Celo network, and is now governed by Mento, the decentralised reserve protocol that also mints Celo's dollar coin. Stability comes from an onchain reserve that has historically held several times the value of the tokens outstanding, weighted heavily toward CELO but diversified with Bitcoin, Ether and other stablecoins. There is no company redemption desk: users mint EURm by sending collateral into the reserve and redeem by burning tokens back through the protocol, with arbitrage keeping the price near one euro. It has spread beyond Celo to Ethereum, Polygon, Solana and Monad, reaching for a chain-agnostic euro built for onchain payments.