The investment was led by Teleport founder Sten Tamkivi and Taavet Hinrikus, co-founder of Wise and Skype's first employee.
Monerium recently launched blockchain IBANs, enabling Europeans to send and receive euros directly between bank accounts and blockchain wallets without crypto exchanges.
The new funding will help Monerium expand its team and scale operations to bring the first billion euro tokens to blockchains.
SAN FRANCISCO & REYKJAVIK, Iceland--Tradeshift, the leader in supply chain payments and marketplaces, and Monerium, the world's first and only authorized provider of licensed e-money for blockchains, announce the successful completion of a transaction that marks a major step forward in business payments and finance. Using Tradeshift's platform and smart contracts on the Ethereum blockchain, Icelandic retailer Nordic Store purchased goods from IKEA Iceland and settled an e-invoice with Monerium's programmable digital cash.
REYKJAVIK--Monerium ehf. has received a license from the Financial Supervisory Authority of Iceland to issue e-money on blockchains through its subsidiary, Monerium EMI ehf. The full license is the world's first e-money license for blockchains issued under EU e-money regulations. The license is passportable within the largest global economic zone, the European Economic Area, and to external jurisdictions subject to regulatory approval and destination country regulations.
Reykjavik-based Monerium has closed a $2M seed round led by Crowberry Capital, with participation from ConsenSys and Hof Holdings. Backed by a team experienced in rebuilding Iceland's financial services after the 2008 crash, Monerium issues asset-backed, regulated e-money on blockchains to make them accessible for financial institutions, corporations, and consumers. The funding will accelerate the development of its services following its application to become a licensed financial services provider in the European Economic Area.