Home / Cryptocurrency / ConsenSys Backs Icelandic Startup Co-Founded by Ex-Chair of Country’s Central Bank

ConsenSys Backs Icelandic Startup Co-Founded by Ex-Chair of Country’s Central Bank

Ethereum (ETH) blockchain startup and incubator ConsenSys has participated in a $2 million seed investment spherical for Iceland-based blockchain startup Monerium, consistent with a press free up from the company, printed Jan. 11. The startup counts the previous chairman of Iceland’s central financial institution amongst its 4 founders.

The investment spherical was once reportedly led through Icelandic project capital fund Crowberry Capital, and has additionally observed the participation of Icelandic personal funding company Hof Holdings.

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

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

Monerium is reportedly recently anticipating overview of its utility to develop into an authorized monetary services and products corporate within the Ecu Financial House (EEA). If secured, the license will assist facilitate the quite a lot of purposes related to its deliberate blockchain-powered e-money issuance — significantly asset control, compliance and possibility control.

ConsenSys co-founder Andrew Keys has mentioned within the press free up that strengthen for Monerium aligns with the incubator’s goal to assist construct “the infrastructure wanted for a extra decentralized and self-sovereign long term.”

Previous this month, ConsenSys partnered with semiconductor manufacturer AMD and funding control company Halo Holdings on a venture to broaden a blockchain-based cloud computing infrastructure. In December, Consensys signed a Memorandum of Figuring out with South Korean technological protecting SK Team for an initiative to create an undertaking blockchain trade style the usage of good contracts.

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