E-Money, a leading issuer of stablecoin, announced on Twitter that they would be partnering with Royale Finance to disrupt iGaming by lowering the barriers to entry for entrepreneurs.
“E-Money has joined forces with #iGaming finance experts @Royale_Finance to help iGaming companies to bankroll their platforms.”
How Is This Partnership Going To Work?
Entrepreneurs in the iGaming space have to continually bankroll their platforms to create new products and services. This partnership with e-Money will help Royale to bring in more fairness and transparency to their financial mechanisms. Through this partnership, iGaming companies can finance their platforms via the infrastructure provided by e-Money. While Royale Network already funds its companies with stablecoins, through e-Money, they will be able to issue a variety of stablecoin backed by different global currencies.
Avron Goss. Royale Finance CSO said about the partnership:
“e-Money is creating the tools that will bring more adoption to the crypto world. Converting one’s native currency into a stablecoin to access financial services is mandatory for people to embrace the DeFi services. As a global platform, we want to trigger innovation around the world, and being able to propose various stablecoins to iGaming companies to fit their needs is essential for us!”
What Is e-Money?
e-Money aims to create the next generation of stablecoin. They have already developed several European currency-backed stablecoins such as the eEUR, the eCHF, and tokens backed by Scandinavian currencies (eNOK, eDKK, and eSEK). As per Royale, e-Money is addressing the challenges faced by stablecoins by “offering non-USD backed assets, fully backing each stablecoin so that funds are always redeemable, providing a token-economic model in which the value of the stablecoins moves in line with the interest accrued on the underlying reserve assets.” They get routinely audited by Ernst and Young (quarterly) to offer full transparency.
Martin Dyring-Andersen, Founder of e-Money, said about the partnership with Royale:
“Entering a partnership with Royale.Finance is a new step in e-Money vision. We are trying to create the tools needed for the future of financial services. Being able to integrate the Royale ecosystem is an opportunity since we are expanding from financial services to other industries.”
What is Royale Finance?
Royale Finance is a DeFi lending protocol that aims to create Web 3.0 smart-backed funding solutions using to support iGaming products and platforms' innovation.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.