EURW, issued by Newrails UAB, is a euro-pegged stablecoin structured as a Markets in Crypto-Assets Regulation (MiCA) Electronic Money Token (EMT) that references the euro at par value, with one EURW equal to one EUR [S1][S2].

Holders receive a token referencing the euro at par, fully backed 1:1 by euro-denominated reserves composed of cash, overnight deposits, and AAA-rated euro government money market funds, with no commercial paper or longer-dated securities [S1][S3][S4]. The token is price-tracking and bears no yield or interest [S1]. Newrails charges zero fees for EUR to EURW minting and redemption, though third-party receiving bank fees and blockchain network fees are borne by the holder [S1][S2].

Newrails UAB is incorporated in Lithuania (company code 305270426) and is a licensed Electronic Money Institution authorised by the Bank of Lithuania under EMI Licence No. 69, passported across 30 European Economic Area countries [S5][S3]. The holder's claim is regulated e-money under MiCA Title IV [S1]. To redeem directly, holders must complete identity verification, prove wallet control, and maintain a SEPA-reachable IBAN in their own name; Restricted Persons cannot redeem directly [S2]. All holders have an unconditional right to redeem at par at any time [S2]. Reserves are fully segregated at authorised EU credit institutions and legally protected against creditor claims in insolvency [S3].

EURW is a permissioned ERC-20-equivalent token that blocks sanctioned addresses, live on Monad and Hedera, with Ethereum and Base launching in the third quarter of 2026 [S3][S4]. Minting completes in roughly 10 to 20 seconds post-verification; redemption burns tokens and settles euros via SEPA credit transfer to the holder's IBAN [S4][S2]. Reserves are attested monthly by a third party [S1].

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://www.newrails.xyz/en/platform/eurw" },
    { id: "S2", url: "https://www.newrails.xyz/en/legal/emt-redemption-policy" },
    { id: "S3", url: "https://www.newrails.xyz/en/faq" },
    { id: "S4", url: "https://www.newrails.xyz/en/hubs/euro-stablecoin" },
    { id: "S5", url: "https://www.newrails.xyz/en" },
  ]}
/>


# Asset mints methodology

## 1. Overview

Asset mints is a metric that represents the total value of new assets minted onchain. Daily mint volumes are tracked across supported blockchains to quantify the issuance of tokenized assets. Gross mint events are identified from native token transfer logs and transaction-level supply changes. To ensure accuracy for assets with pre-minted supplies, corrections are applied by subtracting non-circulating allocations. The final metric is normalized by decimal precision and converted to USD using end-of-day price feeds.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token `Mint` instructions
- **Non-EVM chain events and transactions**:
 - Algorand: Asset Configuration (`acfg`) transactions and token transfers
 - Cardano: UTXO-derived mint and burn events
 - Near: Token mint events
 - Polkadot Asset Hub: `Issued` events from `assets` pallets
 - Ripple: Transaction-level issuer net flows
 - Stacks: Token transfers with null senders
 - Sui: `TreasuryCap` object total supply changes
 - Stellar: SEP-41 `sep41_mint` events

- **Asset metadata**: Token addresses and decimal precision retrieved from token metadata
- **External data**: End-of-day price feeds sourced from market data providers

## 3. Step-by-step calculation

### Component A: Gross mint extraction

- **Purpose**: Extract raw mint events across all supported blockchains
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the sender address is the zero address. On Solana, SPL token `Mint` instructions are extracted. On Algorand, withdrawals from asset configuration addresses are identified as gross mints. On Cardano, positive supply deltas are derived from transaction UTXO inputs and outputs. On Near, token mint events are extracted. On Polkadot Asset Hub, `Issued` events from `assets` pallets are parsed. On Ripple, transaction-level net flows are calculated, and positive net flows from issuer accounts are classified as mints. On Stacks, token transfers with a null sender address are extracted. On Sui, total supply changes are decoded from `TreasuryCap` objects. On Stellar, SEP-41 `sep41_mint` events are parsed.
- **Key fields**: `amount` (raw token quantity), `token_address` (asset contract or token identifier), `timestamp` (block timestamp)

### Component B: Premint correction

- **Purpose**: Adjust gross mints to exclude pre-minted tokens that do not enter active circulation
- **Logic**: For supported assets, a correction is applied to distinguish between gross mints and circulating supply changes. Mints that are sent directly to designated non-circulating premint addresses are classified as premints. Conversely, transfers from these premint addresses to circulating addresses are classified as premint issuances. Corrected mints are calculated by subtracting premints from gross mints and adding premint issuances.
- **Key fields**: `amount` (corrected token quantity), `token_address` (asset contract), `account_address` (premint address)

### Component C: Decimal normalization

- **Purpose**: Normalize raw token quantities into standard units
- **Logic**: Raw token amounts are normalized by decimal precision. Decimal precision is retrieved from token metadata for each specific asset.
- **Key fields**: `amount` (normalized token quantity), `decimals` (decimal precision)

### Component D: Final aggregation and USD conversion

- **Purpose**: Aggregate daily normalized mints and convert the values to USD
- **Logic**: Normalized daily mint amounts are aggregated by asset and blockchain. Daily USD values are calculated by multiplying the daily normalized mint amount by the end-of-day price feed for the respective asset. If no mint events occur on a given day, the daily value is filled with zero values.
- **Key fields**: `amount_usd` (daily minted value in USD), `price_usd` (end-of-day asset price)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset mints

Stablecoins

EURW is issued by NewRails as a euro-pegged stablecoin and is deployed on the Monad blockchain.

NewRails issues EURW, a euro-pegged stablecoin on Monad.

NewRails (newrails.xyz) is a stablecoin issuance and payments platform.

twitter

website

Stablecoin issuers

NewRails

NewRails Euro (EURW) is a euro stablecoin issued by NewRails through Newrails, UAB.

Each token is redeemable one-for-one for euros and is a direct claim on the issuer.

Reserves are held in segregated accounts within a bankruptcy-remote structure, attested monthly by UAB Tezaurus auditas.

Retail investors and institutions can mint and redeem directly with NewRails in EUR after completing KYC, and holders have a contractual right to redeem at par.

Newrails, UAB is incorporated in Lithuania, is authorised under MiCA, and is supervised by the Bank of Lithuania.

Holder terms are governed by the law of Lithuania.

EURW has been issued on Monad as an ERC-20 token since March 2026.

NewRails EuroEURW