Monerium became the first company to operate under the EU regulatory framework for electronic money. It enabled the firm to offer blockchain-powered e-money services in the European Economic Area (EEA).
Monerium co-founder Jón Helgi Egilsson is formerly a chairman of the Supervisory Board of the Central Bank of Iceland.
Monerium intends to launch a blockchain-based e-currency pegged to Icelandic krona to enable cross-border payments in the currency without a financial middleman.
This digital Islndic krone will be first available for operations inside the European Union, with further expansion subject to national regulatory policies.