e-Money is a blockchain-based payment platform that aims to bridge the legacy banking system with a single efficient blockchain layer. Built on Cosmos technology, the e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins.
The company vision is to create a level playing field, providing equal access to transparent financial services, on a global scale, while greatly reducing cost. To that end, e-Money intends to release a range of currency-backed stablecoins in a system that is fair and transparent, accessible for all, and with near-zero fees, instant settlements, and immediate finality. eMoney is not designed to act as a wholesale replacement for the existing financial system, but can instead be thought of as the layer two solution for traditional finance.
e-Money was founded in March 2016 by a Danish fintech company. e-Money is proud of its journey to date in creating the Next Generation of Stablecoins.
2021 has been a whirlwind period for the company, marked by achieving key project milestones, strategic partnerships, and push towards user-adoption of its stablecoins EEUR and $NGM token.
In January 2022 e-Money published its latest proof of funds audit report by Ernst & Young. The published report reiterates how e-Money’s European stablecoins are fully collateralized, backed with bank deposits held at commercial banks.
Full company’s roadmap that covers events that have taken place over the past 6 years and that are planned for the year 2022 can be found here.
e-Money has a top-notch team of world-class professionals that are already working on bringing e-Money to global success, dedicated to helping people around the world gain easy access to digital currencies, democratize payments, and grow financial inclusion.
e-Money co-founders Martin Dyring-Andersen and Henrik Aasted Sørensen are seasoned fintech and Blockchain experts with a wealth of industry experience and have spearheaded successful ventures with a particular focus on simplifying real-world issues through technology.
Frederik Køhler is a Chief Financial Officer in e-Money. He has over 15 years of banking experience with large financial institutions, including Jyske Bank, Industrial and Commercial Bank of China, and more. His roles have included investment advisor, relationship management, FX trading, and treasury, across the European region. Frederik holds a Graduate Diploma in Business Administration, with a concentration in finance from the prestigious Copenhagen Business School.
Shalini Wood is a Chief Marketing Officer in e-Money. Ms. Wood has extensive experience in global technology marketing and communications. She has worked both in the Netherlands and India, holding senior strategic roles with companies including Honeywell, Utrecht University of Applied Sciences and numerous Blockchain start-ups.
A single staking token (NGM) is used to secure the e-Money network by staking it with one or more validators. The total supply of NGM is continuously inflated. The inflation rate is currently 10% per year. The inflated tokens are distributed pro-rata as staking rewards to accounts that staked tokens.
- NGM supply increases with inflation for staking rewards and is reduced by buyback and burning. The NGM token must be staked to receive any rewards.
- Transaction fees grow with the adoption of the e-Money network for payments and trading.
- Stablecoin rewards grow with the adoption (AUM) of e-Money stablecoins.
- Stablecoin adoption can happen both inside the e-Money network and outside, including all zones in the Cosmos ecosystem and planned bridges to Ethereum, Avalanche and Polkadot.
e-Money is expanding beyond the USD-dominated stablecoin market to deliver trusted currencies that can be used in both retail and cross-border payments.
- e-Money offers multiple currency-backed stablecoins, each using a dynamic peg that tracks the underlying interest rate.
- The total supply of each stablecoin is continuously inflated. The rate is variable and set per stablecoin, currently 0.5% per year.
- The increased supply for each stablecoin is used to buy back NGM tokens in the market (DEX) against each stablecoin. Purchased NGM tokens are burned.
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
To learn more about the e-Money project visit their official website.
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