Menu
Banking Exchange Magazine Logo
Menu

Emoney Catches the Eye of Startup Investors

Monerium is a fintech startup that was initiated just a couple of years ago

  • |
  • Written by  Banking Exchange staff
  • |
  • Comments:   DISQUS_COMMENTS
Emoney Catches the Eye of Startup Investors

“Becoming a licensed financial institution is the next key step for Monerium 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,” said Sveinn Valfells, CEO of Monerium. 

Monerium is a fintech startup that was initiated just a couple of years ago by a number of people familiar with the banking industry. The founders include the former head of the Central Bank of Iceland and is focused on developing “fiat currencies” over block chain. According to Coindesk, the new company recently received $2 million in funding from ConsenSys and will help to increase the speed to market of its services. Venture capital firms and investment firms that have invested in the startup are Hof Holdings and Crowberry Capital. 

The focus of the firm will be to issue redeemable emoney over blockchains as an institution. The aim is to make block chain more mainstream and relevant to financial institutions. It will likely seek to be licensed in the EU as the company is also based in Iceland. While this could take awhile, the CEO stated that they are committed to the process of applying. 

In a press release, the cofounder of ConsensSys stated that Monerium is “dedicated to supporting companies building the infrastructure needed for a more decentralized and self-sovereign future.” 

back to top

Sections

About Us

Connect With Us

Resources

Webinar: From KYC to IDV

How three leading banks are utilizing cutting-edge
digital tools to onboard, win, and wow customers

Time/Date: June 23, 2021 11:00 a.m. ET

Digital adoption, already moving at warp speed, accelerated seven years into the future during the COVID-19 pandemic. As the number of bank branches continues to fall, with at least one study predicting all branches will disappear by 2034 (Fox Business) and foot traffic declining (Vox), today’s most innovative banks are charting a new, digital-first path to win over customers while increasing security, meeting KYC compliance requirements, and winning customers to drive revenue.

In this webinar, you’ll hear from John Baird, Founder & CEO of Vouched, Tyler Crawford, COO of Bankers Healthcare Group, Anand Sathiyamurthy, CPO of Flagstar Bank and Daniel Sheehan, Chairman & CEO of Professional Bank as they describe their vision for digital transformation and how customer expectations are changing to digital first. They’ll also explore how fostering an innovation mindset creates new ways to tackle complex KYC problems and allows them to quickly compete in new markets and win customers.

REGISTER NOW!

This webinar is brought to you by:
Vouched Logo