Algorand blockchain startup and Monerium, a licensed digital money provider, have announced a partnership. Its goal will be the release in 2020 of “fully programmable and redeemable electronic money Monerium” on the Algorand protocol.

Monerium received a license from the Icelandic Financial Supervisory Authority (FME) in June 2019 to issue electronic money on the blockchain.

Since then, the company has implemented several projects in the EU, Iceland, Norway and Liechtenstein with digital money denominated in euros, British pounds and Icelandic krona.

In November, a large-scale update of the Algorand 2.0 protocol took place, which included a number of functions that allow complex exchanges, such as account quarantine, white list models, flexible asset reservation, and much more, the press release said.

Algorand incorporates key features for many mainstream use-cases, including stateless smart contracts and scaleable proof-of-stake consensus.


Sveinn Valfells

Co-founder and CEO of Monerium 

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