May 26, 2022
Propel x E-Money
🤝 We are delighted to announce that e-Money has participated in our journey as a strategic partner.
🤝 Propel to explore e-Money’s suite of stablecoins
e-Money, a European blockchain project built on Cosmos, and Propel, a blockchain infrastructure solution platform, have announced their intent to explore a strategic collaboration.
Digital currencies are fast gaining momentum across the globe and e-Money’s suite of fully collateralized stable coins offers an ideal solution to be used across numerous blockchain-based projects.
Benefits of the partnership
e-Money has been forging strong partnerships with various blockchain projects across the crypto world, and a strategic collaboration with Propel to power their ecosystem with euro-backed stablecoins will strengthen its position as a reliable alternative to dollar-pegged digital currencies. e-Money’s suite of stablecoins currently includes EEUR, ECHF, ESEK, ENOK, and EDKK.
Propel’s multichain infrastructure offers end-to-end, plug-and-play infrastructure solutions to DeFi, NFT, and Metaverse projects and holds the distinction of being the only provider offering DaaS, MaaS, and Staking solutions under a single umbrella.
Integrating e-Money’s asset-backed stablecoins within Propel’s ecosystem offers a fantastic opportunity for the project to access the European market where users can invest with payment solutions that are backed by their own native currencies. Thus, the partnership will also help accelerate Propel’s popularity in a region that is vital to the growth of the crypto ecosystem.
About Propel
Propel is a global blockchain infrastructure solution platform that offers end-to-end, plug-and-play infrastructure solutions to DeFi, NFT, and Metaverse projects. Propel’s solutions are available for multiple blockchain ecosystems and include multi-chain capabilities.
Propel also holds the distinction of being the only provider offering DaaS, MaaS, and Staking solutions under a single umbrella.
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About e-Money
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
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 Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.
