Polygon Unveils Live Euro-Dollar Onchain FX Pool with EURe and frxUSD

Polygon, a leading Ethereum scaling platform, has announced the launch of a live euro-dollar onchain FX pool with EURe and frxUSD. The pool, which was launched by Monerium, Frax, and Capa on Uniswap v3 on October 1, provides a direct route for applications on Polygon to convert euros to dollar-denominated stablecoins onchain.

EURe is a MiCA-compliant euro e-money token backed 1:1 by safeguarded euro reserves, while frxUSD supplies the dollar side of the pair. Capa is involved in the liquidity and market infrastructure connecting the two assets.

The result is a route where an application can receive euros, convert to dollar liquidity onchain, and continue moving funds without sending each step back through a separate offchain FX intermediary. This is particularly interesting for payment and treasury applications, which can now perform currency conversions directly on the Polygon network.