e-Money Monthly Updates
Greetings to e-Money community members! The month of September has been a whirlwind period for us marked by achieving key project milestones, strategic partnerships and push towards user-adoption of our stablecoins EEUR and $NGM token. All in all, it was a productive and busy growth period for e-Money!
Let’s take a look at the highlights
Published: Our First Proof of Funds by Ernst & Young
In the month of September we published our very first proof of funds audit report by Ernst & Young. The published report reiterates how e-Money’s European stablecoins are fully collateralized, backed with actual bank deposits held at commercial banks. While, e-Money stablecoin adoption is at a very nascent stage and such is reflected in the stablecoin reserves of the past quarter. We expect our stablecoin reserves to grow rapidly in the coming months as we launch liquidity mining campaigns and increase the number of connected networks. Read the full audit report here
e-Money Mainnet Upgrade
We upgraded to e-Money V3, the mainnet migration enabled Inter-Blockchain Communication (IBC) protocol to the Cosmos Hub and bridged e-Money network to the Osmosis AMM DEX. Read more
Exchange Listing
e-Money’s EEUR was the first stablecoin listed on Osmosis, a Cosmos Hub based AMM platform. Read more
Partnerships
- e-Money to integrate with Algorand to support a range of fully backed European stablecoins across the Algorand ecosystem, including EEUR, ECHF, ENOK, ESEK, and EDKK. This integration will enable faster time-to-market for applications built on Algorand looking to offer native currency options to users throughout Europe and drive adoption of Algorand-based applications among European users given currency familiarity. Read more
- e-Money explores integration with Aurora: e-Money is exploring integrating with Aurora, an EVM built on the NEAR protocol. As cryptocurrency payments across spectrums gain momentum, this will be a crucial step forward towards e-Money’s expansion into a multi-chain ecosystem. Read more
- Alium Finance collaborates with e-Money for its European Stablecoins. e-Money partnered with Alium Finance, a cross-chain DeFi project with a robust NFT ecosystem featuring tradeable, in-game assets. This collaboration aims to expand our footprint into the decentralized finance (DeFi), NFT, and gaming ecosystems and offer e-Money users exposure to emerging asset classes powered by cryptocurrencies. Read more
- e-Money Announced strategic partnership with Cosmostation: Cosmostation as one of the genesis validators securing e-Money network, will be extending the collaboration to integrate $NGM and e-money stablecoins to the Cosmostation product suite. Read more
- e-Money Announces Integration with Elastos Blockchain: The European stablecoins eEUR, eCHF, eSEK, eNOK & eDKK issued by e-Money will be available on the Elastos open-source network, encouraging more users within the region to join the network and facilitate transactions using their native currencies. Read more
e-Money in the News
- CoinDesk covered our integration with Algorand Network. Read more
- Yahoo Finance featured e-Money’s EEUR listing, article titled “ e-Money’s eEUR Becomes The First Stablecoin To Be Listed On Osmosis AMM Decentralized Exchange”. Read more
- Bitcoinist featured e-Money’s EEUR listing, article titled “e-Money and Osmosis Team Up to Make eEUR the First Stablecoin to Be Listed on Osmosis AMM Decentralised Exchange” Read more
- e-Money’s EEUR Listing on Osmosis Decentralised Exchange featured by leading blockchain publication Altcoin Buzz. Read more
- e-Money in the spotlight again as leading YouTube channel Chico Crypto discusses the news about our European Stablecoins launch on Osmosis DEX. 🎥 Watch the video here
About e-Money
The e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins reflecting various world currencies. Each token is backed by a reserve of assets denominated in its underlying currency. e-Money currently supports the Euro (EUR), Swiss Franc (CHF), Swedish Krona (SEK), Norwegian Krone (NOK), and the Danish Krone (DKK) with a host of additional currencies pegged for release throughout the year. The project is dedicated to total transparency with quarterly reserve audits performed by Ernst & Young.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Ethereum and Cosmos Hub. e-Money expects to integrate with Binance Smart Chain, Avalanche, Polygon, and Elrond in 2021.
