e-Money Coin: European stablecoins partnered with Polygon Network
e-Money has announced that they are integrating with the Polygon Network in Q3, 2021. Recently, the acceptance of cryptocurrency payments and blockchain technology has been exponentially increasing throughout online platforms and physical assets, solidifying the need for more stablecoins in other currencies. e-Money has successfully filled that gap with their European stablecoins.
The European stablecoins eEUR, eCHF, eSEK, eNOK & eDKK issued by e-Money will be available on the Polygon Network, encouraging more users within the region to join the network use their native currency to facilitate transactions.
These stablecoins are also interest-bearing, indicating that the interest earned on the underlying assets is reflected in the token’s value, allowing token holders to make financial gains. Furthermore, quarterly audits by Ernst & Young will guarantee the integrity and transparency of e-Money stablecoins, ensuring Proof of Funds.
Martin Dyring-Anderson, e-Money CEO and Founder, said: “We are very excited to integrate with the Polygon Network to bring e-Money’s compliant European digital currencies to a broader audience. We believe Polygon users will benefit from having European stablecoins rather than just USD-denominated stablecoin options. This integration will enable e-Money to interact with real-world economies and DeFi applications, thereby expanding our user base and strengthening our position as a leading issuer of trustworthy stablecoins.”
The integration of e-Money’s European stablecoins will provide a significant addition to Polygon’s array of stablecoins. It will also facilitate faster integrations with European partners looking for native currency options for the markets they operate in.
The integration of e-Money’s European stablecoins will provide a significant addition to Polygon’s array of stablecoins. It will also facilitate faster integrations with European partners looking for native currency options for the markets they operate in.
About e-Money
e-Money is a blockchain-based payment platform committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, 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 eEUR, the eCHF, and tokens backed by Scandinavian currencies (eNOK, eDKK, and eSEK) with a host of additional currencies pegged for release in 2021. The e-Money ecosystem has a second token class, the Next Generation Money (NGM) token is a staking and rewards token, users can stake NGM to secure the e-Money network.
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.