Copenhagen, Denmark, July 06, 2022 (GLOBE NEWSWIRE) -- e-Money, a Danish blockchain-based payment platform has integrated with payment processor Simplex by Nuvei to create a fiat on-ramp for EEUR, a fully collateralised interest-bearing stablecoin issued by e-Money. Users of e-Money and crypto enthusiasts can now purchase e-Money’s EEUR stablecoin with credit and debit cards.
Simplex by Nuvei is the largest provider of secure fiat-to-crypto infrastructure, enabling users to transfer their funds from debit and credit cards into crypto nearly instantly. Simplex is the provider underpinning 350+ fiat onramps on leading exchanges such as Binance, Huobi and BitPay.
e-Money is a blockchain-based payment platform that is committed to bringing about financial inclusion and helping people around the world to have easy access to digital currencies. e-Money stablecoins are fully collateralised, backed with bank deposits and government bonds held at commercial banks. Uniquely, e-Money’s currency-backed stablecoins each utilise an interest bearing peg that tracks the underlying interest rate, meaning that interest on the fiat currency is transmitted to stablecoin holders even when just sitting in a user’s wallet.
Additionally, the reliability and transparency of e-Money stablecoins is ensured by Ernst & Young quarterly audits to ensure Proof of Funds, giving complete peace of mind to all users who utilise the e-Money ecosystem.
“Our integration of Simplex by Nuvei solution provides for a simple and streamlined way to use credit or debit cards to buy our fully collateralised interest-bearing EEUR stablecoin and allows for users to gain access to all the assets on Cosmos, Avalanche, Ethereum and other integrated blockchain networks” said Martin Dyring-Andersen, Founder & CEO of e-Money. “In times where markets are increasingly volatile and leveraged we believe users will benefit from our fully fiat backed and audited stablecoins.”
"We are excited to support e-Money with our seamless and secure onramp solution, helping millions of users gain easy access to EEUR stablecoin with everyday payment methods", - said Ari Last, VP Business Development at Simplex by Nuvei.
The e-Money platform is built on the Cosmos Network, which is ideal for the e-Money payment system as it is scalable, provides immediate settlement, and can be configured for immediate block creation. The e-Money sovereign zone on Cosmos is designed to be easy to use, fast, and with incredibly low, negligible fees.
Simplex by Nuvei is an EU licensed financial institution that empowers users to purchase a vast selection of cryptocurrencies with a growing range of payment methods, including credit/debit card, Apple Pay, bank transfer, and more. Simplex by Nuvei provides industry leading fraud prevention and guarantees zero risk on every transaction, making purchases both seamless and secure. Keep up with the latest Simplex news on Twitter or visit simplex.com.
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.