X Protocol explores e-Money’s asset-backed stablecoins
We are delighted to share that X Protocol is collaborating with e-Money, a blockchain-based payment platform built by Danish fintech firm e-Money A/S. The company issues a suite of fully collateralized European stablecoins such as the e-EUR, e-CHF, e-NOK, e-DKK, and e-SEK.
X Protocol will explore the use of e-Money’s asset-backed, interest bearing stablecoins within their ecosystem and may also offer their metaverse infrastructure to familiarize their community to the Cosmos backed blockchain project.
Both projects are also likely to explore marketing activities such as AMAs (Ask Me Anything) and Twitter Spaces chats, which enables both communities to come closer together and get a deeper understanding of each other’s projects.
The ultimate goal here is to facilitate brand awareness for X Protocol and accelerate the adoption for the metaverse project within the European community while offering diverse payment solutions for its users and thus, enhancing user experience on its platform.
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.
About X Protocol
X Protocol is the first metaverse+ application portal programmed using RUST language with source-generated gameplay and land economy model.
It also provides low-cost access to the Metaverse for DAPPs on heterogeneous chains, sharing X Protocol’s users while making the X Protocol ecosystem more prosperous.
X Protocol will strive to become the “Ready Player one”’s World + STEAM platform in the blockchain space.
Please click the following links for further information about the X-Protocol