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Monerium to issue e-money on Algorand's blockchain protocol

Javeria by Javeria - 01:45 PM Jan 21, 2020
Monerium to issue e-money on Algorand's blockchain protocol

Algorand, the world’s first pure proof-of-stake blockchain protocol and Monerium, the first authorised company to issue e-money on blockchains, has announced a partnership in order to support the new Algorand protocol using the Monerium’s e-money.

A reliable form of on-chain digital cash is needed for the mainstream adoption of blockchains. Monerium has announced various B2B use cases for money after receiving the license for its e-money in June 2019. Monerium is currently supporting multiple e-money across Iceland, EU, Norway and Liechtenstein in Icelandic krona, British Pounds, Euros and US Dollars.

The recent Algorand 2.0 upgrade has benefited the company in a great way. Algorand 2.0, with its significant features, has made sophisticated exchanges possible, for example, quarantine, flexible asset reserve models whitelist models etc.

Sveinn Valfells, Monerium’s CEO Views On The Partnership

Monerium said that they are looking forward to further promote their e-money mainstream adoption through the partnership of Algorand.

The co-founder and CEO of Monerium, Sveinn Valfells, has commented that they are looking forward to supporting Algorand protocol as it comprises features like scaleable proof-of-stake consensus and stateless smart contracts for many mainstream use-cases. He also added that Algorand leadership had designed a blockchain for the mainstream application while staying close to its open-source community.

According to W.Sean Ford, COO of Algorand, both the companies share a vision for real-world use cases empowered by blockchain technology. He commented that the company is thrilled for Monerium’s solution for e-money that they are bringing to Algorand. 

About Algorand and Monerium

Algorand Inc. was the first company to build an open-source, permissionless, advanced proof-of-stake blockchain protocol. Algorand protocol was the brainchild of Silvio Micali, the Turing award-winning cryptographer. Monerium is a fintech company that works to make digital currency widely accessible, secure, and easy to transact online. It is the only company that is authorised for issuing regulated e-money on blockchain.

About The Author
Javeria

JaveriaJaveria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.

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