What Is Monerium and How the Picnic Euro Account Works

Monerium is the partner that connects your Picnic account to the European banking system. Thanks to Monerium, the Picnic euro account has its own IBAN: euros sent by SEPA to that IBAN arrive as EURe, a digital euro in your account, and EURe can go back to any European bank account by SEPA.

For people who get paid in euros, live between Brazil and Europe or simply want to keep part of their savings in the European currency, this is a central piece. Here is who Monerium is and how it works inside the app.

What is Monerium?

Monerium is an electronic money institution (EMI) authorized and supervised by the Financial Supervisory Authority of the Central Bank of Iceland. In practice, it is a company regulated in Europe to issue electronic money.

Monerium's best-known product is EURe, a euro stablecoin: a digital token worth one euro and backed by reserves held by the company. According to Monerium, EURe is available on Ethereum, Polygon and Gnosis and can be transferred between them.

What makes Monerium different is the direct link between the IBAN and the wallet. Euros that arrive at the IBAN become EURe in the wallet linked to it, and EURe sent back becomes euros in a bank account.

How does the euro account work at Picnic?

At Picnic, Monerium does three things:

1. Gives you a euro IBAN linked to your account. The IBAN is associated with your Picnic account. It is the number you give to whoever is paying you in euros.
2. Receives euros by SEPA. A SEPA transfer to your IBAN arrives as EURe in your Picnic account, under your control.
3. Sends euros by SEPA. When you send euros to a European bank account, the EURe leaves your account and Monerium makes the SEPA transfer, including as an instant transfer when the receiving bank supports it.

The EURe that arrives through the IBAN lives on Gnosis Chain, the same network that holds the Picnic card balances.

Is the euro account available to everyone?

Not yet. Opening new euro accounts is being rolled out gradually. People who already have the IBAN keep using it as usual. If the option does not show up in your app yet, it means the rollout has not reached your account.

Opening the account requires identity verification, as European regulation demands. In some cases, proof of address is also requested.

Why does this matter to you?

Getting paid in euros in Brazil usually involves a bank, a currency exchange and waiting. With an IBAN linked to your Picnic account, the path gets shorter:

• One IBAN to get paid. Companies and clients in Europe pay by SEPA, just as they would pay any European supplier.
• The money stays in your account. The euro arrives as EURe in your own account, not in a balance controlled only by the company.
• A regulated way out. When you need to send euros to a European bank, Monerium builds the bridge back through SEPA.

If you are weighing your options, we compare different paths in the guide to euro accounts for Brazilians (in Portuguese). And if you get paid a salary from abroad, see how to receive a salary in euros in Brazil (in Portuguese).

Thank you, Monerium

Linking a regulated IBAN to a self-custody account takes a company willing to do the regulatory and technical work that stays invisible to the user. The Picnic euro account rests directly on that work by Monerium. Thank you to the Monerium team for the partnership and for the patience to build, together with us, a regulated path between traditional euros and digital euros.

Picnic is a technology platform that lets users independently interact with USDC, a U.S. dollar-pegged stablecoin issued by Circle, on public blockchains. USDC is not legal tender in Brazil.

Displayed exchange rates vary with market conditions. The final applicable amount is the one shown on the transaction confirmation screen. Cryptoassets involve risks, including volatility and loss of peg.

Picnic does not custody user assets and is neither a financial institution nor a virtual asset service provider. Sending and receiving U.S. dollar payments through a U.S. account is offered in partnership with Noah Savings Inc. Terms and conditions apply.

Information verified in April 2026.