e-Money offers currency-backed interest bearing Stablecoins
The Stablecoin market has emerged as a valuable asset class in the Cryptocurrency industry, with the most popular assets demonstrating impressive adaptation and usage since their inception. e-Money is looking to disrupt the Stablecoin market through its range of currency-backed stablecoins, which are fully backed by bank deposits and government bonds that are also interest-bearing.
Market-leading assets in the Stablecoin market have emerged in recent years, but have faced recent concerns and regulatory oversight over their long-term sustainability amidst an uncertain financial climate. e-Money stablecoins are equipped to face unprecedented economic conditions. In periods with positive interest rates, e-Money token holders will see the value of their tokens rise in line with the interest accrued on the underlying assets. In the same manner, in events of negative interest rates e-Money tokens remain flexible and will not break their peg.
Additionally, e-Money is already working with multiple European banks to hold its stablecoin deposits. The fidelity and transparency of e-Money stablecoins is ensured by Ernst & Young providing quarterly Proof of Funds.
Built on Cosmos, the e-Money solution brings impressive utility to the financial services industry through faster remittances and instant payments on a global scale, whilst also providing NGOs and multinational corporations with a more efficient, transparent method of distributing and handling assets.
“We are committed to bringing financial inclusion and to help people around the world to have easy access to digital currencies and democratize payments. Digital cryptocurrency payments have the potential of creating a globalized economy, by bringing fast and secure financial services to people across the globe. Our journey to bridge the legacy financial system with digital money is only getting started, expect to see bigger things happening in the following months.” said Martin Dyring-Andersen, Founder & CEO of e-Money.
e-Money has seen impressive recent growth and adaptation through regular partnerships with leading DeFi and NFT platforms such as Avalanche, Elrond Network, MantraDAO, Royal Finance, Uniqly, Curate, Blind Boxes, leading wallet provider, TrustWallet, and many more. With the DeFi space continuing to evolve rapidly, the need for more reliable Stablecoins and global assets is becoming more prominent.
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.