Today, the cloud-based procurement and invoicing platform Tradeshift announced it carried out a transaction on the Ethereum blockchain with Monerium’s e-money for settlement. ConsenSys-backed
Monerium was granted the license to issue e-money on blockchain by the Financial Supervisory Authority of Iceland.
One question is what’s the difference between a “stablecoin” and e-money. Monerium’s co-founder and CEO Sveinn Valfells explained to Ledger Insights: “The term “stablecoin” refers to a collection of non-uniform user agreements of various issuers of fiat-linked tokens. E-money, however, is a digital alternative to cash defined in EU law; only authorized issuers can use the term.”
He continued: “It is a technically neutral standard which dates back to 2000 and has previously been used on other media, such as cards. Because it is a well-defined and established licensing framework for digital cash which predates and is independent of blockchains, it would be inappropriate to refer to e-money as a stablecoin.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
