The e-Money protocol is about to integrate their stablecoins into the Algorand blockchain platform and connect them to European currencies.

E-Money expects that after this partnership with Algorand, they will be developing faster and will manage to scale up their apps for accounts in currencies that have become popular with European users. These are stablecoins based on Euro (eEUR), Swiss Franc (eCHF), also Swedish (eSEK), Norwegian (eNOK), and Danish (eDKK) Krones.

Users' trust in e-Money stablecoins is associated with the fact that these tokens are supported with a reserve that consists of bank deposits and government's obligations, as well as quarterly audit revisions by Ernst & Young.

According to David Markley, the Algorand Director of Business Solutions, "Integration with e-Money will enlarge the common access to the Algorand ecosystem and will help the European market grow for many innovative and useful protocols in the network, from DeFi solutions to NFT trading platforms, and more."

We would also like to remind you that a year ago Algorand Foundation launched a business accelerator to support European start-ups in the blockchain ecosystem. To support such initiatives within the Algorand ecosystem, the Arrington XRP Capital company created a foundation of 100 million USD.

Also, last week Algorand Foundation opened a fund for developing DeFi projects. The company gave 150 million native ALGO tokens, which is equivalent to 318 million USD at the moment when this article is being written.