Bridge Round: E Money Network Raises $3.3M to Fuel Growth & Innovation

We are beyond thrilled to announce that E Money Network has achieved a major funding milestone by raising $3.3 million in its ongoing bridge round backed by Kelsier Ventures, Animoca Brands joined as lead validator, GBV Capital, Momentum 6, Blockchain Founders Fund, Morningstar Ventures, Kucoin, Blackedge Capital and Banter Capital were significant participants in the round.

At E Money Network, we are building the world’s first Layer 1 (L1) MiCA-compliant blockchain for Real World Asset (RWA) tokenisation. By integrating RWAs into the realm of blockchain, we aim to strengthen liquidity in Web3 and expand the use cases of blockchain. We are implementing Know Your Customer (KYC) and Anti-Money Laundering (AML) modules in our platform at the foundational level to ensure regulatory compliance at every step.

This investment comes at an opportune time as the implementation of the Markets in Crypto Assets (MiCA) regulation in Europe is around the corner. Adhering to MiCA directives, E Money Network can not only facilitate the issuance of e-money tokens in a MiCA-compliant manner, but it also boasts of a banking license, enabling end-to-end regulated storage and custody solutions.

Furthermore, E Money Network is focused on facilitating interoperability between various blockchain systems to achieve greater cohesion within the blockchain space. This will aggregate billions of dollars in liquidity from different crypto protocols and expand the scope for next-generation financial applications and RWA use cases within the E Money Network ecosystem.

The funding will help accelerate growth and expansion at E Money Network and help us gain first-movers’ among RWA projects in offering a fully prepared ground to the community for driving the new wave of innovation in the blockchain space.

Raj Bagadi, Founder and CEO of E Money Network said, "This bridge round significantly strengthens our growth trajectory. The funds will be used to develop and launch the E Money Network beta mainnet, onboard developers and provide grants for application development, expand our team, collaborate with existing projects, and execute strategic marketing initiatives."

Nilotpal Mukherjee, Founder and Partner of Symbiote and Momentum6, said “Deeply impressed with my journey with Raj - one of the most humble and honest operators in the space. Nothing of this association has been short of fulfilling, seeing through the early days of vision setup during the darkest of bear markets, to product fine-tuning and maturity and finally building one of the most secured and MiCA compliant chain that's the need of the hour. It's just the beginning and we totally believe E Money would be the network to reckon for regulated institutions in times to come."

The E Money Team has had its hands full over the last few months. We recently launched the E Money Network testnet and recorded a processing capacity of up to 1,000 transactions per second (TPS). Additionally, we have initiated a rewards program incentivizing users for social media engagement and on-chain activities. For developers, we launched a grant program to aid them in building groundbreaking applications on the E Money Network platform.

Our partnerships team has been busy striking strategic alliances with some of the most promising projects in the industry including RWA Inc, Kima Network, Patex and MAIV Finance.

There are several developments in progress at E Money Network right now majorly concerning the following –

• E-money tokens: The default stable asset within the E Money Network's DeFi/RWA ecosystem for digital asset transactions.

• E Money Wallet: The native wallet with integrated IBAN functionality which will allow users to spend e-money tokens seamlessly within and beyond the E Money Network.

• $EMYC Launch: The upcoming native token of the E Money Network ecosystem which will power all its operations.

We will reveal many more exciting updates next month. We want to thank all of you for having supported us in our journey so far. With your continued support, we will achieve what we have set out to do.

Keep checking this space for more updates!