A startup developing "electronic money" attracted $2 million.

[Paha87]

Blockchain Studio ConsenSys, which developed Ethereum, took part in the initial round of financing, investing $ 2 million for the start-up Monerium, based in Iceland. The early-stage funding round attracted Crowberry capital, a venture capital company, and included the participation of a private investment company, Hof Holdings, also based in Iceland.

Founded in 2016, Monerium is a FINTECH startup led, among others, by John Helga Egilsson, former Chairman of the Central Bank of Iceland. The firm is developing a solution for conducting transactions with Fiat money on the blockchain, in a scheme that the startup calls "electronic money". Initial funding will be used to accelerate the development of the company's services.

Ultimately, Monerium seeks to issue " asset-backed, redeemable and regulated electronic money "through the blockchain as a licensed institution, saying that these"products will make the blockchain more relevant and useful to financial institutions and businesses."

According to the statement, its application is not yet licensed within the EU, however, Monerium CEO Swain Valfells said:

Becoming a licensed financial institution is the next key step for Monerium to take full responsibility and control over the full range of functions required to issue electronic money on the blockchain: asset management, compliance, risk management and product development.

Andrew Keyes, co-founder of ConsenSys Capital, added that His firm"is dedicated to supporting companies that build the infrastructure needed for a more decentralized and sovereign future."

Back in November, ConsenSys held a $2.1 million startup round for AZTEC, a startup working to make Ethereum transactions private and thereby encourage financial institutions to use THE second largest blockchain. A month before, the largest blockchain Studio was the only investor to invest $6.5 million for DrumG Technologies, a blockchain startup formed by former head of R3 business development Tim Grant.

Link to the source of information (Russian) - https://altstake.io/news/startap-razrabatyvayuschiy-elektronnye-denygi-privlek-2-mln