Monerium and Algorand partner for redeemable emoney on Blockchain

Monerium the world's first authorized provider of licensed e-money for blockchains, and Algorand Inc. , the world's first open source, permissionless, pure proof-of-stake blockchain protocol, have entered a non-exclusive partnership to support the Algorand protocol in 2020 with Monerium's fully programmable and redeemable e-money.

Mainstream adoption of blockchains requires a reliable form of digital cash on-chain. Since receiving its e-money license in June 2019, Monerium has announced several B2B use cases for e-money, including a cross-border transaction in euros. Monerium now supports e-money across the EU, Iceland, Norway and Liechtenstein in US Dollars, Euros, British Pounds, and Icelandic krona.

"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."

"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."