European stablecoins eEUR, eCHF, eSEK, eNOK & eDKK issued by e-Money will circulate on the Elastos mainnet!
Denmark, 25 August, 2021. In Q4, 2021, e-Money is excited to announce that they will be integrating with the Elastos ecosystem. Acceptance of cryptocurrency payments and blockchain technology has exploded in popularity across online platforms and physical assets in recent months, highlighting the need for more stablecoins in other currencies. With their European stablecoins, e-Money has successfully filled that gap.
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. This feature will encourage more adoption in the European region as users will feel more confident trading with a currency they are familiar with.
Elastos is the world’s leading provider of open source solutions, employing blockchain technology and a peer-to-peer network for communication, decentralized data storage services, and a decentralized ID system for all users and digital assets.
“We’re really excited to work with the Elastos platform to expand the reach of e- Money’s European digital currencies. We feel that having European stablecoins will help Elastos in the European region,” said Martin Dyring-Andersen, e-Money CEO, and Founder.
“e-Money is a leader in the European blockchain industry and we’re looking forward to having e-Money’s stablecoins available on the Elastos ecosystem, encouraging a wider range of access to our users throughout all of our solutions”, Jochem Herber, co-founder of Elastos Orchard.
The inclusion of e-European Money’s stablecoins to Elastos’ solutions will be a significant improvement, as it will allow for faster integrations with European partners looking for native currency options for the regions they operate in.
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 expects to integrate with Binance Smart Chain, Cosmos Hub, Avalanche, Polygon, and Elrond in 2021.
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Founded in 2017, Elastos is a decentralized community building the blockchain industry’s most comprehensive and interoperable open source Web3 platform. Using a hybrid consensus that combines the secure hashpower of Bitcoin and the democratic ideals of Delegated-Proof-of-Stake, the SmartWeb ecosystem of Elastos comprises a suite of software for an entirely decentralized internet. Elastos employs not only blockchain technology, but a peer-to-peer network for communication, decentralized data storage services, a decentralized ID (DID) system for all digital assets and the ability to create smart contracts and unlimited sidechains. Elastos is not only the foundation for securing truly decentralized applications that can scale; it is the foundation for true data ownership.
elastOS, the flagship product of the Elastos Smartweb, brings the entire decentralized ecosystem into a single App, currently available for Android and iOS and in development for desktop.