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The Ethereum ConsenSys development study participated in a $ 2 million financing round for the blocker blocker Monerium, based in Iceland, announced on Friday.
The round was led by Crowberry Capital, an early stage venture company, and saw the participation of the private investment firm Hof Holdings, both based in Iceland.
Founded in 2016, Monerium is a fintech startup led, among others, by Jon Helgi Egilsson, former president of the Central Bank of Iceland. The company is developing a solution for trading legal currencies on blockchain, what it calls "electronic money". Seed financing will be used to accelerate the development of its services.
Ultimately, the Monerium aims to issue "subjected, redeemable and regulated e-money" compared to blockchain once it has become an authorized institution, saying that its products would make the blockchains "more relevant and useful" to financial institutions and businesses.
Although not yet authorized in the EU, its application is underway, according to the announcement.
The CEO of Monerium Sveinn Valfells said:
"Becoming an authorized financial institution is the next fundamental step for Monerium in order to assume full responsibility and control over the full range of functions necessary to issue electronic money on blockchains: asset management, compliance, risk management and product development. ".
Andrew Keys, co-founder of ConsenSys Capital, added that his company is "committed to supporting companies in building the infrastructure needed for a more decentralized and self-sufficient future".
In November, ConsenSys led a $ 2.1 million seed round for AZTEC, a startup committed to making ethereum transactions private, thus encouraging financial institutions to use the second blockchain.
A month ago, he was the only investor in a $ 6.5 million fundraiser for DrumG Technologies, a blockbuster startup formed by R3, former head of commercial development Tim Grant.
Featured image courtesy of Monerium (from left: Igor Lilic, ConsenSys, Joseph Lubin, ConsenSys, Jón Helgi Egilsson, Monerium)
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