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Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million #btc #eth #xrp #ltc

Ethereum advancement studio ConsenSys has participated in a $2 million seed funding round for Iceland-centered blockchain startup Monerium, the business declared Friday.

The round was led by early-phase venture money business Crowberry Cash and included participation from private expenditure business Hof Holdings, both also centered in Iceland.

Established in 2016, Monerium is a fintech startup led by, amongst other people, Jon Helgi Egilsson, previous chairman of the Central Bank of Iceland. The business is acquiring a solution for transacting fiat currencies around blockchains, what it phone calls “e-funds.” The seed funding will be used to speed up advancement of its companies.

Monerium in the end aims to issue “asset-backed, redeemable and controlled e-money” around blockchains once it will become a certified institution, saying its products and solutions would make blockchains “more relevant and useful” to financial establishments and enterprises.

Even though not nonetheless certified in the EU, its software is in progress, in accordance to the announcement.

Monerium CEO Sveinn Valfells claimed:

“Becoming a certified financial institution is the next vital stage for Monerium in purchase to think full duty for and management around the complete range of functions demanded to concern e-funds on blockchains: asset administration, compliance, danger administration, and products advancement.”

Andrew Keys, co-founder of ConsenSys Cash, included that his business is “dedicated to supporting corporations making the infrastructure essential for a a lot more decentralized and self-sovereign potential.”

Back again in November, ConsenSys led a $2.1 million seed round for AZTEC, a startup functioning to make ethereum transactions private and thereby motivate financial establishments to use the next-premier blockchain.

A month prior, it was the sole trader in a $six.5 million fundraise for DrumG Technologies, a blockchain startup shaped by R3 previous head of organization advancement Tim Grant.

Featured graphic courtesy of Monerium (from still left: Igor Lilic, ConsenSys Joseph Lubin, ConsenSys Jón Helgi Egilsson, Monerium)

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