Home / Latest Breaking News / 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 unlock from the company, revealed 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 by way of Icelandic challenge capital fund Crowberry Capital, and has additionally noticed the participation of Icelandic non-public 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 other people throughout Iceland, Sweden, america and the UK.

Monerium is reportedly recently waiting for overview of its software to change into a certified monetary services and products corporate within the Eu Financial House (EEA). If secured, the license will lend a hand facilitate the more than a few 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 unlock that beef up for Monerium aligns with the incubator’s goal to lend a hand construct “the infrastructure wanted for a extra decentralized and self-sovereign long run.”

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

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