Monerium Teams-up With Algorand To Support e-money Transactions On Algorand Blockchain

Monerium, the globally renowned digital currency services provider, has announced its strategic collaboration with revolutionary blockchain protocol solution Algorand Inc. The integration between the two leading firms has been focused on strengthening the Algorand blockchain system with Monerium’s efficient offerings of programmable and redeemable e-money.

With the growth and evolution of the crypto arena in recent times, several world-class firms have started exploring the industry by entering into partnerships with blockchain-pegged entities. Where on the one hand, Monerium takes pride in being the pioneer of providing licensed e-money for blockchain solutions, on the other hand, Algorand Inc. designed the world’s first open-source, permissionless, and proof-of-stake blockchain protocol focused towards the requirements of the next generation financial offerings. Monerium received its license for e-money services in June 2019, post which the firm has initiated multiple B2B support cases along with a cross-border transaction in euros. The company has spread its operations across the EU, Iceland, Norway, and Liechtenstein.

“We look forward to supporting the Algorand protocol. Algorand incorporates key features for many mainstream use-cases, including stateless smart contracts and scalable 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. Supporting new blockchains with mainstream relevance is a priority for Monerium,” quoted Sveinn Valfells, Co-founder and CEO of Monerium.

While sharing views about the partnership, CEO of Algorand Inc., W. Sean Ford, stated that “Monerium and Algorand have a shared vision for real-world use cases that are enabled by advanced blockchain technology. 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.”