UK -based blockchain start-up Tramonex has been made a small electronic money institution on a restricted registration by Tramonex . The registration is the first time that this type of financial services provider has been given permission to offer electronic money. Tramonex , which was previously given a £ 250,000 grant by the London government, will now be able to conduct a pilot to test the use of smart contracts for the management of donation transfers to charities over blockchain. Working with fintech start-up alice.si, the company will receive funds and transfer the corresponding amount in e-money through a self-executing smart contract.
London-based blockchain start-up Tramonex has been made a small electronic money institution on a restricted registration by the Financial Conduct Authority. The registration is the first time that this type of financial services provider has been given permission to offer electronic money. Tramonex, which was previously given a £250,000 grant by the UK government, will now be able to conduct a pilot to test the use of smart contracts for the management of donation transfers to charities over blockchain. Working with fintech start-up alice.si, the company will receive funds and transfer the corresponding amount in e-money through a self-executing smart contract.