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Monerium to issue e-money on Algorand blockchain protocol

Monerium, a provider of licensed e-money for blockchains, has entered into a partnership with open-source blockchain protocol Algorand in a bid to support the latter’s protocol in 2020 with its e-money solution.

“We look forward to supporting the Algorand protocol. Algorand incorporates key features for many mainstream use-cases, including stateless smart contracts and scaleable proof-of-stake consensus. The Algorand leadership has taken a pragmatic and deliberate approach in designing a blockchain for mainstream applications while staying close to the ethos of the open-source community” states Sveinn Valfells, co-founder and CEO of Monerium. “Supporting new blockchains with mainstream relevance is a priority for Monerium.”

Established in 2015, ConsenSys-backed Monerium is authorized to issue regulated e-money on blockchains. Using e-money issued by Monerium, individuals and businesses can store and send programmable digital currency online without going through traditional financial institutions and payment providers.

“Monerium and Algorand have a shared vision for real-world use cases that are enabled by advanced blockchain technology,” said W. Sean Ford, COO of Algorand, Inc. “We are thrilled that Monerium will be bringing their solution for e-money to Algorand and we look forward to our community’s ability to leverage the technology for straightforward regulatory compliance.”

Recently, IBMR.io partnered with Algorand Inc., for jointly launching the new microfinance ecosystem platform, ARCC.one, on Algorand 2.0.

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