Consensys backs e-money on blockchains venture Monerium

Ethereum blockchain startup and incubator Consensys has participated in a $2 million seed funding round for Iceland-based startup Monerium.

“Monerium has a clear vision to bridge fiat money and blockchains. It was when working with ConsenSys shortly after the launch of Ethereum, that we first identified e-money as a key catalyst for mainstream blockchain adoption. This investment, and the continued partnership with ConsenSys – alongside the backing from Crowberry Capital and Hof – is a clear indication that we are on course to achieve our goals,” says Sveinn Valfells, CEO of Monerium.

Becoming a licenced financial institution is the next key step in order to assume full responsibility for and control over the complete range of functions required to issue e-money on blockchains: asset management, compliance, risk management, and product development, he adds.

“Drawing on our extensive experience of financial services and technology, we are confident that we can enable our customers to store and transmit fiat funds safely and efficiently on blockchains, permissioned or permissionless.”