Opinions

ConsenSys Participates in Raising a $2 Million Fund for Monerium

ConsenSys, a blockchain software technology company based in Brooklyn, New York, was founded by Joseph Lubin in 2014. The company has shown support to Monerium, a blockchain startup, by assisting in the seeding fund of $ 2 million worth. Besides ConsenSys, Hof Holdings, an Iceland based private investment firm, has also participated in the funding round led by Crowberry Capital, an Icelandic venture capital fund.

Coven, a new initiative by ConsenSys, will be marking its first act by taking care of the investment in Monerium. The co-founder of ConcenSys, Andrew Key, is optimistic about the involvement of his company in Monerium’s project. He stated that his company supports the companies that have a vision of decentralized future. Earlier this month, ConsenSys was seen to collaborate with AMD, a semiconductor producer, to work on blockchain based cloud computing infrastructure, W3BCLOUD.

Monerium was founded by four members: Gísli Kristjánsson, co-founder of Appvise, Hjörtur Hjartarson, who is also the co-founder of Appvise, Sveinn Valfells, who used to be the director of operations at DeCode Genetics, and Jón Helgi Egilsson, who has been the chairman of the supervisory board of the Central Bank of Iceland and head of capital markets at Landsbanki bank. Under the leadership of these members, Monerium aims to ease the process of transacting money by linking fiat with blockchain.

Monerium looks forward to the use of e-money, which will be redeemable and regulated, on blockchains to fulfill its objective. Before the seed round, Monerium finished the application for becoming a licensed financial services company in the European Economic Area. After obtaining the license, the company wills to control all the activities related to the e-money which includes asset management, compliance, risk management, and product development.

Monerium’s founders bring different valuable past experiences and diverse knowledge in sectors such as biotech, banking, fintech, cloud services, mobile, adtech telecoms, and venture capital to the table. They aim to decentralize finance while maintaining stability. They have successfully raised $2 million worth funds for their project and were seen bullish on their project.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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