Nord Finance explores e-Money’s suite of stablecoins
We are pleased to announce that e-Money is exploring a strategic partnership with Nord Finance, a decentralized finance (DeFi) platform that powers a range of financial services such as Savings, Loans, and Advisory Services against crypto assets. The partnership will introduce e-Money’s suite of European stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK to Nord Finance’s ecosystem, whilst bringing awareness to one another’s communities about our respective projects.
How it works
Nord Finance is a multi-chain interoperable platform that aims to combine traditional finance features into the DeFi network to enhance the user experience and make investments in DeFi more accessible. The platform offers a host of financial services through 3 key user friendly products — Nord.Savings, Nord.Loans and Nord.Advisory.
Integrating e-Money’s fully collateralized stablecoins with Nord Finance’s blockchain agnostic platform offer a wonderful opportunity for the financial services platform to tap into the European market and facilitate access to users who can invest with payment solutions that are backed by their own native currencies. Hence, this also enables Nord Finance to increase its brand awareness and accelerate its popularity in a region that is vital to the growth of the crypto economy.
About Nord Finance
Nord Finance is an advanced decentralized financial ecosystem designed to simplify DeFi investing by bringing key features of traditional finance to the DeFi ecosystem. Nord Finance is built on Ethereum Network. Multichain interoperability of Nord Finance powers a plethora of financial primitives, which constitute savings, advisory, loans against crypto assets, Investment, and Fund management. Nord Finance is creating innovative ways for everyone to generate wealth with Blockchain Technology.
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About e-Money
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.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
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 Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.
