The exchange problem

For most people, accessing on-chain finance still starts the same way: open an exchange account, complete verification, deposit euros, buy an intermediate token, transfer it to another account, then finally reach the product you wanted in the first place.

Too many steps. Too many intermediaries. Too many points where things can go wrong, failed transfers, frozen funds, unexpected conversion fees, withdrawal windows you did not plan for.

Exchanges were built for trading. They became the default gateway to on-chain products because nothing better existed. But they were never designed to be the front door to a financial platform. Using one to reach your euro balance is like visiting a currency bureau every time you want to check your savings.

That default just changed.

EUR to EUR0. EUR0 to EUR. Direct.

Starting today, Usual offers a direct connection between your bank account and your EUR0 balance. Deposit euros from your bank. Receive EUR0 in your Usual account. Withdraw EUR0 back to your bank whenever you need to. No exchange in between.

This is the EUR ↔ EUR0 rail, a regulated bridge between your European bank account and the Usual platform. It works with standard SEPA and SEPA Instant transfers, available across 36 countries in Europe, the UK, and Switzerland.

For the first time, users can move between traditional banking and Usual without a single exchange or third-party trading platform standing in the way.

How it works

Every Usual user receives a dedicated virtual IBAN, directly inside the Usual app. It functions like any European bank account, you can send and receive SEPA transfers across Europe.

Depositing euros (on-ramp) Initiate a standard bank transfer from your existing bank account to your personal IBAN inside Usual. Your EUR0 balance updates automatically. SEPA Instant settles in seconds. Standard SEPA takes one to two business days.

Withdrawing euros (off-ramp) Convert EUR0 back to euros and receive them in your bank account via SEPA transfer. The flow works in reverse, same rail, same clarity.

No exchange account to manage. No intermediate tokens to handle. No copy-pasting addresses between platforms. Identity verification is handled within the Usual app and takes two to three minutes.

Why this matters

A neobank that cannot connect to the banking system is not a neobank. It is a product with a missing piece.

This is that piece.

The EUR ↔ EUR0 rail removes the single biggest source of friction in on-chain finance: getting in and getting out. Until now, even users who understood the value of EUR0, a euro balance backed by European sovereign bonds, had to navigate exchanges and conversion steps to access it. Many never did.

With this launch, two things change:

1. Access without exchanges. Anyone with a European bank account can deposit euros into Usual and hold EUR0 directly. No intermediary required. The entry point is a SEPA transfer, the same mechanism used for rent, salaries, and subscriptions.

2. Exit without friction. Returning to the traditional banking system is just as straightforward. EUR0 converts to euros and arrives in your bank account. No broker, no withdrawal queue, no ambiguity.

These are not incremental improvements. They are foundational. You cannot build a credible financial platform without a clean fiat rail. Everything else, savings, credit, investments, depends on the ability to move money in and out with confidence. This is the first banking primitive. Everything Usual builds from here relies on it.

Built on a regulated framework

The banking infrastructure behind this feature is operated by Monerium, a European Electronic Money Institution (EMI). Monerium holds the first e-money license ever issued for blockchain-based infrastructure, granted in 2019 by Iceland's financial authority (FME). They are fully licensed under MiCA, the European Union's Markets in Crypto-Assets regulation, and operate across the entire European Economic Area.

What this means in practice:

• Regulated electronic money. Euros are held as regulated e-money with a minimum 102% overcollateralization in segregated accounts. Full redemption rights at par, backed by European financial law.

• European compliance. Full KYC and AML compliance under EU directives. Reserves are independently audited on an annual basis.

• Consumer protection. E-money holders benefit from legal protections that include priority over senior bank creditors in the event of insolvency, a standard that exceeds most alternatives available today.

Usual chose Monerium because compliance is not optional when you are building for real financial use. The rail must be as sound as the product it connects to.

What comes next

This launch is version one. The flow is live, functional, and available today inside the Usual app.

In the coming weeks, the experience will continue to improve, smoother journeys, broader coverage, and refined user flows. Each iteration will make the connection between your bank and your Usual account more seamless.

The EUR ↔ EUR0 rail is the first banking connection. It will not be the last. More currencies and more rails will follow, each moving Usual closer to what it is becoming: a complete financial platform where deposits, savings, credit, and investments work together, connected to the financial world you already use.

Learn more

For a deeper look at EUR0, the deposit and withdrawal flow, and the infrastructure behind this integration, visit the Usual documentation and knowledge base.

Now live inside Usual.