Quantoz Payments Launches EURD: A Regulated and Customizable Digital Euro
Quantoz Payments, a trailblazer in the realm of digital currencies and financial technology, is thrilled to present EURD, the Quantoz digital euro. EURD serves as a regulated and adaptable electronic money token, devised to tackle the absence of reliable digital euros.
Quantoz Payments acts as the issuer of EURD and meets the criteria of an electronic money institution. Operating under the supervision of the Dutch Central Bank (DNB), the organization is listed in DNB’s register of financial institutions.
Nick Haasnoot, Quantoz CEO, states, “Our Electronic Money Institution (EMI) license empowers Quantoz Payments to distribute digital euros on a public blockchain, formally establishing these euros as a legitimate payment instrument. Users can confidently redeem their digital euros, as they are fully secured by funds held in a trust account overseen by the Quantoz Foundation and verified by an accredited accounting firm.”
It is essential to emphasize that EURD does not fall under the category of a cryptocurrency or a stablecoin but rather an electronic money token (EMT), which also distinguishes it from central bank digital currencies (CBDCs). EURD is constructed to align with the recently enforced Markets in Crypto Assets Regulation (MiCAR), which has brought comprehensive regulation to the issuance of electronic money tokens on distributed ledgers.
Anticipated for the conclusion of this year, EURD and the e-money services will be accessible to all enterprises and consumers within the European Economic Area, irrespective of whether they possess a traditional bank account. EURD opens pathways for transactions to internet-connected devices, avatars, and plays a pivotal role in facilitating the WEB3 economy. With the Quantoz euro, microtransactions become financially feasible, enabling scenarios such as remunerating sensors for data, machine-to-machine transactions, and more.
EURD surpasses its status as a regulated digital euro, presenting an array of alluring features, including robust privacy, coverage of transaction fees, and the capability to program money for enhanced efficiency and cost-effectiveness.
