e-Money
Crypto Overview
Overview
e-Money (NGM) is a cryptocurrency project built on the Cosmos network that aims to create interest-bearing currency-backed tokens that are fully collateralized by bank deposits and government bonds.
Purpose and Utility
The primary purpose of e-Money is to provide stable, interest-bearing digital currencies backed by European bank deposits and government bonds. The NGM token itself serves as a governance and staking token for the e-Money network.
Business Model Analysis
The core business model revolves around interest-bearing stablecoins and lending, which involves riba (interest). The platform's fundamental value proposition is built around earning and distributing interest from traditional financial instruments.
Real-World Adoption
The project has established partnerships with various Cosmos ecosystem projects and European financial institutions. However, the primary use case remains centered around interest-bearing activities.
Development Activity
The project maintains active development, with regular updates to their protocol and infrastructure. The team continues to expand their suite of interest-bearing stablecoins and financial products.
Crypto Impact
To assign a comfort level investing in e-Money from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to e-Money.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.