Uniqly to Explore European Stablecoins With e-Money Partnership

Non-fungible token marketplace Uniqly has announced a partnership with stablecoin issuer e-Money with a view to launching stablecoins for European nations.

In an announcement on May 18, Uniqly stated that it wanted to explore future possibilities with stablecoins for the Euro (eEUR), Swiss Franc (eCHF), Norwegian Krone (eNOK), Swedish Krona (eSEK), and Danish Krone (eDKK).

It added that access to these stablecoins will accelerate Uniqly’s adoption amongst the European user base. Uniqly specializes in tokenizing physical goods and authenticating them on the blockchain.

“This strategic collaboration will enable Uniqly to explore e-Money’s suite of asset backed, interest bearing digital currencies.”

Stablecoin Expansion

The e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins reflecting various world currencies. It currently only supports the five mentioned above but has plans to issue more in 2021.

Each stable token is backed by a reserve of assets denominated in its underlying currency which are fully audited on a quarterly basis by Ernst & Young.

Martin Dyring-Andersen, CEO and founder of e-Money, stated that NFTs are taking the crypto world by storm. He added;

“We are thrilled to support this creative ecosystem with our expanding range of interest bearing stablecoins and look forward to a mutually beneficial partnership with Uniqly, one of the most promising projects in the metaverse,”

Uniqly offers a full range of services for NFTs. Such services include its own marketplace, escrow services, NFT generators, NFT “materializator,” and staking pools.

On May 12, the platform released a series of NFT-backed t-shirts. This marked the first-ever collection of NFTs backed by physical products.

It recently announced a partnership with VAIOT, a firm that combines AI and blockchain to develop Intelligent Virtual Assistants (IVAs). Uniqly has also partnered with Enjin and plans to adopt their powerful cross-chain NFT technology.

UNIQ Token Dumps

The positive news was not enough to counter the wave of negative sentiment that has swept over the entire crypto market today. UNIQ tokens were dumping with the rest of them, shedding 27% over the past 24 hours, according to Coingecko.

At the time of writing, the token was trading at $2.67, less than half of its all-time high of $6.17 on April 24. There are 2.3 million UNIQ tokens in circulation out of a maximum supply of 13 million.

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