ConsenSys Backs Icelandic Startup Co-Based by Ex-Chair of Nation’s Central Financial institution

Ethereum (ETHblockchain startup and incubator ConsenSys has participated in a $2 million seed funding spherical for Iceland-based blockchain startup Monerium, in accordance with a press launch from the agency, published Jan. 11. The startup counts the previous chairman of Iceland’s central bank amongst its four founders.

The funding spherical was reportedly led by Icelandic enterprise capital fund Crowberry Capital, and has additionally seen the participation of Icelandic non-public funding agency Hof Holdings.

Based in 2016, Monerium is reportedly growing an answer for “bridging fiat cash and blockchains,” issuing what it refers to as e-money.

Former central financial institution chairman Jon Helgi Egilsson, alongside co-founders Gísli Kristjánsson, Hjörtur Hjartarson, and Sveinn Valfells, are spearheading a workforce of 14 folks throughout Iceland, Sweden, the USA and the UK.

Monerium is reportedly at present awaiting evaluate of its utility to change into a licensed monetary providers firm within the European Financial Space (EEA). If secured, the license will assist facilitate the varied features related to its deliberate blockchain-powered e-money issuance — notably asset administration, compliance and threat administration.

ConsenSys co-founder Andrew Keys has acknowledged within the press launch that assist for Monerium aligns with the incubator’s intention to assist construct “the infrastructure wanted for a extra decentralized and self-sovereign future.”

Earlier this month, ConsenSys partnered with semiconductor producer AMD and funding administration agency Halo Holdings on a undertaking to develop a blockchain-based cloud computing infrastructure. In December, Consensys signed a Memorandum of Understanding with South Korean technological holding SK Group for an initiative to create an enterprise blockchain enterprise mannequin utilizing smart contracts.

Picture through Shutterstock.

Supply: Cointelegraph


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