PAID Network partners with e-Money
We’re thrilled to announce a strategic partnership between PAID Network and e-Money. e-Money is committed to bringing financial inclusion and helping people worldwide have easy access to digital currencies while bridging blockchain with the traditional financial system. Built on Cosmos, e-Money is created for the issuance of a range of interest-bearing stablecoins which are fully backed with actual bank deposits and government bonds. e-Money currently supports the Euro (EUR), Swiss Franc (CHF), and Scandinavian currencies.
Their vision is to create a level playing field, providing equal access to financial services on a global scale, while greatly reducing cost.
They promise a cheaper and more user-friendly experience for global citizens, local businesses, and international companies.
e-Money is motivated to create an ecosystem that is fair and transparent. To achieve this, they will explore PAID Network’s SMART Agreement dApp to;
- Implement standardized business agreements for their internal operations
- Save time and money by executing instant settlements with immediate finality
- Offer custom trustless business agreements to make their ever-expanding business ventures in the crypto sector more efficient
We formed this strategic partnership to bring awareness to one another’s communities about our respective projects. This alliance will draw upon our combined strengths to accelerate growth and prosperity. Both teams will work towards a common goal — to deliver decentralized governed financial services to the masses.
Martin Dyring-Andersen, CEO & Founder of e-Money commented:
“We are happy to partner with PAID, as we are huge proponents of transparency and compliance in business practices. Our collaboration will be looking to bring together and connecting our two communities whilst exploring PAID’s SMART Agreement dApp for our internal operations and business agreements.”
Kyle Chasse, CEO of PAID says of the partnership:
“We are thrilled to be starting this strategic partnership with e-Money. PAID, since the start, has been about creating secure means for the everyday person to transact and #GETPAID fairly, and we believe that this aligns directly with e-Money’s vision of creating a level playing field by providing equal access to financial services globally. We are proud that this partnership will be able to contribute to a fair and transparent ecosystem by using the PAID SMART Agreement dApp”
The e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins reflecting various world currencies. Each token is backed by a reserve of assets denominated in its underlying currency. e-Money currently supports the Euro (EUR), Swiss Franc (CHF), Swedish Krona (SEK), Norwegian Krone (NOK), and the Danish Krone (DKK) with a host of additional currencies pegged for release in 2021. The project is dedicated to total transparency with quarterly reserve audits performed by Ernst & Young.
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 expects to integrate with Cosmos Hub, Ethereum, and Avalanche in the first half of 2021.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.
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