e-Money Is Now Available on Emeris Beta
Emeris Beta just integrated a new IBC-enabled chain — e-Money.
Read on to find out more about this innovative Cosmos-built blockchain and the new token you can now interact with using Emeris Beta.
e-Money (NGM)
e-Money (NGM) is an electronic payment system and cross-chain platform built on the Cosmos Network developing advanced stablecoins to transcend money within the Web 3.0 world. It’s designed to provide users and local businesses worldwide with easy and open access to digital financial services and is the first stablecoin coming to Emeris, allowing users to hedge against volatility.
Currently supported tokens are popular Western and Northern European stablecoins such as eEUR, eCHF, eSEK, eNOK, and eDKK. Each stablecoin is pegged to the respective fiat currencies’ interest rate and uses a unique model where the value aligns with the accrued interest on reserve assets acting as collateral. Leveraging Cosmos and Tendermint infrastructure, e-Money’s stablecoins are highly scalable, fast, utilize microscopic transaction fees, and optimal for cross-border payments.
The NGM token helps secure the e-Money network through staking, where it bonds with validators and rewards users with a portion of newly minted tokens. Ernst & Young completes reserve audits every quarter, making the platform one of the most credible and transparent available. The e-Money blockchain also contains a decentralized exchange (DEX) that allows for instant and seamless swaps between supported currencies.
We’ll be updating you here as more chains enter the interoperable Cosmos ecosystem, so stay tuned! There’s a lot more to come.
