Ethereum, development studio ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, the firm announced Friday.

The round was led by the early-stage venture capital firm Crownberry Capital and included participation from private investment firm Holf Holdings, both based in Iceland.

Founded in 2016, Monerium is a fintech led by Jon Helgi Egilsson, former chairman of the Central Bank of Iceland. The firm is developing a solution for transacting fiat currencies over blockchains, what it calls “e-money.” The seed funding will be used to accelerate development of its services.

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