Monerium Gets 2 Million Funding to Develop e-Money on Blockchains

Monerium Gets 2 Million Funding to Develop e-Money on Blockchains

Iceland based fintech startup Monerium have raised around two million dollars in a seed funding round led by Nordic VC fund, Crowberry Capital, and New York companies ConsenSys and Hof Holdings.

According to a press release, the funding will be focused on the issue of e-money on blockchain platforms. “Monerium’s objective is to make currency accessible, secure, and simple to transact. By issuing asset-backed, redeemable, and regulated e-money on blockchains through a licensed institution, Monerium aims to make blockchains more relevant and useful to mainstream financial institutions, corporations, and consumers.”

On the other hand, Monerium CEO Sveinn Valfells highlighted that “Becoming a licensed financial institution is the next key step for Monerium in order to assume full responsibility for and control over the complete range of functions required to issue e-money on blockchains: asset management, compliance, risk management, and product development.”

Monerium, a fintech startup based in Reykjavik, was founded in 2016 by former Central Bank of Iceland chairman Jon Helgi among others.

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