e-Cash Broadcasts Integration with the Algorand Blockchain to Speed up the Circulation of European Stablecoins

Copenhagen, Denmark, September 13, 2021 / PRNewswire / – e-Money today announced the integration with Algorand to support a range of fully secured European stablecoins across the Algorand ecosystem, including eEUR, eCHF, eNOK, eSEK and eDKK. Stablecoins – digital currencies designed to maintain stable value by pegging them to a fiat currency or other exchange-traded commodity – have grown in popularity significantly due to the demand for stable-priced assets in the fast-growing crypto capital markets.

This integration will enable faster time to market for applications that are based on Algorand and want to offer native currency options to users everywhere Europe and promote the adoption of Algorand-based applications among European users as they are familiar with the currency. These Algorand-compliant European stablecoin offers are not only available directly via e-money, but will also be listed on several decentralized exchanges in the coming days, which further increases the supply in circulation.

European stablecoins are fully secured with e-money and secured with actual bank deposits and government bonds at commercial banks. What is unique is that e-money’s currency-backed stablecoins each use a dynamic link that tracks the underlying interest rate, meaning stablecoin holders can benefit from accrued interest on their assets, even if they are just sitting in a user’s wallet. In addition, e-Money’s services operate in full compliance with AML / CTF legislation, and the platform is transparent and audited quarterly by Ernst & Young.

“We are excited to bring e-money stablecoins into the Algorand protocol. We are already seeing a number of exciting projects being built on Algorand and expect this development to continue at an accelerated pace. E-money will establish itself as an ecosystem. ” partner on Algorand projects that interact with real economies, expanding our user base and strengthening our position as the leading issuer of trusted European stablecoins. “- Martin Dyring-Andersen, E-money founder and CEO.

“Interest in stablecoins is booming and it’s great to add e-money offerings to the fiat-backed assets already floating around on Algorand such as QCAD backed by Canadian fiat and BRZ backed by Brazilian real,” said David Markley, Director of Business Solutions at Algorand. “Integration with e-money will expand general access to the Algorand ecosystem and help accelerate European market growth for many of the innovative and useful protocols on the network, from DeFi solutions to NFT marketplaces and beyond.”

About e-money
The e-money protocol is designed to issue a number of interest-bearing, currency-covered stablecoins that reflect various world currencies. Each token is backed by a reserve of assets denominated in the underlying currency. E-money currently supports the euro (EUR), Swiss franc (CHF), Swedish krona (SEK), Norwegian kroner (NOK) and Danish kroner (DKK) with a variety of additional currencies to be released year-round. The project is dedicated to total transparency with quarterly reserve checks of serious.

Unlike most existing stablecoins, which aim to maintain a static 1: 1 association with their underlying assets, the value of e-money’s currency-backed tokens continually shifts according to the interest accrued on currency reserves. This means that the owners can take advantage of the interest accrued on their assets while they are safe in your wallet. The e-money blockchain supports large-scale instant payments and includes a DEX for easy conversion between currencies. e-Money has already integrated with Ethereum and is expected to be integrated with Binance Smart Chain, Cosmos Hub, Avalanche, Polygon and Elrond in 2021.

About Algorand, Inc.
Algorand builds the technology for the future of finance (FutureFi), the convergence of traditional and decentralized models into a uniform, integrative, smooth and secure system. Founded by a Turing Award-winning cryptographer Silvio Micali, Algorand has developed a blockchain infrastructure that provides the interoperability and capacity to handle the transaction volume required by Defi, financial institutions and governments for a smooth transition to FutureFi. As the technology of choice for more than 700 global companies, Algorand enables the easy creation of next generation financial products, protocols and value sharing. For more information, visit www.algorand.com.

Media contact:
E-money
Shalini wood, CMO e-money
[email protected]

Algorand, Inc.
[email protected]

SOURCE E-Money

Circulation of ‘film cash or ‘prop cash’

LAFAYETTE, La. (KLFY) – Acadiana has prop money circulating. A local business wants to warn businesses and consumers about the “movie money” or “prop money” in circulation. This money will go to the film and advertising industries for use in films, music videos, and production advertising.

Chris Babin of Acadiana’s Better Business Bureau said, “A local accredited company contacted us, wanted us to be aware, wanted us to share the information with businesses and consumers, that someone was actually checking out and using counterfeit money or it says ‘Prop Money’ on it in one of their local facilities and they are not sure if this is an isolated incident or if that type of money is something that is being tried to be spent in the local Acadiana area. “

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The company wanted to remain anonymous, but said payment for products purchased was made in twenty-dollar bills. At first glance, they seem real.

“It’s actually designed to look like real money to be used in movies and in scenes where real currency isn’t used but it has to look like it. So scammers are unethical people who buy it online and have spent it. “Explained Babin.

The counterfeit twenty-dollar bill reads “Copy money,” but it may be difficult to see. The company that accepted the bills said they only use counterfeit detector pens for one hundred and fifty dollar bills.

“The company said it was a busy day. At the end of the day when they checked the cash register, they weren’t sure who actually spent that, so there’s really nothing they can do. They only took out the funds for which they collected the fake bills, ”added Babin.

Here’s how you can avoid falling victim to prop money:

  • Check out the currency when you get it from a consumer.
  • Check all currencies with a counterfeit detector pen.
  • Look for Chinese or foreign characters on the front and back of the invoice.
  • Look for the words “replica” or “copy money”.

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To learn more about Eye on Scams, download our Eye on Scams podcast on 10 Talks Acadiana. https://tentalksacadiana.podbean.com/e/eye-on-scams-may-2021-tutor-scams-vaccine-scams-electrical-company-cons/. It’s available anywhere you listen to podcasts.

If you have a scam for me to investigate please email me at smasters@klfy.com.

Faux Japanese-style artworks present in circulation after probe

A number of counterfeit Japanese-style art prints by master painters circulated after an art dealer in western Japan was found to have sold 10 counterfeits, people familiar with the matter said Monday.

The Japanese Association of Contemporary Print Merchants said the 1950s-based and Osaka-based trader sold 10 counterfeit works based on the artists of Nihonga or Japanese traditional arts – Ikuo Hirayama, Kaii Higashiyama and Tamako Kataoka.

The photo shows a painting by the late master painter of Nihonga or traditional Japanese art Ikuo Hirayama in Nara Prefecture on December 2, 2009. (Kyodo)

The dealer has admitted to having sold the counterfeit works to the association and was fired from the group in December. In the same month, according to investigative sources, police confiscated fake paintings related to the allegations.

The association began the investigation after a staff member discovered that an unusually high number of Hirayama works were in circulation last spring.

The forgeries were complex enough to deceive many except specialists. Since the signatures and coloring were a bit unnatural, the works were revealed to be forgeries when compared to original works kept in art museums.

Also on Monday, the Japanese department store operator Sogo & Seibu Co. announced that a total of 71 art prints sold between 2009 and 2020 with a turnover of around 55 million yen (520,000 US dollars) are suspected to be counterfeits.

Since receiving the report on Dec. 1, the retailer has identified 59 of 71 pieces and plans to fully refund those who purchased prints that have been rated by a third party and found to be counterfeit.

The police are investigating the case as a copyright infringement.