e-Money, Algorand Integration Looks to Increase Stablecoin Usage Across Europe

September 14, 2021

Cryptocurrency service provider e-Money recently revealed it will be integrating with financial technology developer Algorand, to support the growing demand for stablecoin usage across Europe.

The cryptocurrency market is a highly complex financial arena, with many average tech users still trying to wrap their heads around how these “coins” can actually be used in a practical sense. Thankfully, stable coins (digital coins that retain constant value in fluctuating crypto markets) have started to rise in popularity, offering users the ability to purchase crypto assets without the typical volatility of more popular options.

To support this growing trend, the integration developed by the two companies will allow Algorand clients to offer European customers stablecoin payment options to support usage and increase circulation. Crypto users will also be able to securely manage their portfolio through the e-Money virtual wallet, and benefit from a unique program that adds accrued interest on assets within the wallet.

"Interest in stablecoins is booming, and it's great to add e-Money's offerings to those fiat-backed assets already circulating on Algorand, like QCAD, backed by Canadian fiat and BRZ, backed by the Brazilian Real," said David Markley, Director of Business Solutions at Algorand. "Integrating with e-Money will expand overall access to the Algorand ecosystem and help accelerate European market growth for many of the innovative and useful protocols on the network, from DeFi solutions to NFT marketplaces and beyond."

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Edited by Maurice Nagle

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