Quantoz Payments, a payments subsidiary of Dutch blockchain company Quantoz, has been granted an Electronic Money Institution (EMI) license by the Dutch Central Bank and is allowed to issue EURD, a regulated and programmable euro fiat currency on the Algorand network. EURD and its e-money services are expected to be available to all businesses and consumers within the European Economic Area by the end of this year.

PANews reported on November 15 that Quantoz Payments, a payment subsidiary of Dutch blockchain company Quantoz, has obtained an electronic money institution (EMI) license issued by the Dutch Central Bank and is allowed to issue the first regulated and programmable euro fiat currency on the Algorand network, EURD. EURD is designed to be fully compliant with the Regulation of the Crypto Asset Market (MiCAR). Gaston Hendriks, co-founder and CTO of Quantoz, said. "Developers interested in integrating EURD into their applications can leverage our API or use our open-source payment application without in-depth blockchain knowledge. ”

PANews reported on November 15 that Quantoz Payments, a payment subsidiary of Dutch blockchain company Quantoz, has obtained an electronic money institution (EMI) license issued by the Dutch Central Bank and is allowed to issue the first regulated and programmable euro fiat currency on the Algorand network, EURD. EURD is designed to be fully compliant with the Regulation of the Crypto Asset Market (MiCAR). Gaston Hendriks, co-founder and CTO of Quantoz, said. "Developers interested in integrating EURD into their applications can leverage our API or use our open-source payment application without in-depth blockchain knowledge. ”

Quantoz Payments, a pioneer in the field of digital currency and financial technology, announced that it has been licensed as an Electronic Money Institution (EMI) under the supervision of the Dutch Central Bank and approved to issue the first regulated and programmable euro fiat currency on the Algorand network, EURD, according to Golden Finance. EURD and e-money services are expected to be available to all businesses and consumers within the EEA by the end of the year, regardless of whether they have a traditional bank account or not. It is important to note that EURD is not a cryptocurrency or stablecoin, but an electronic currency token (EMT), and unlike a central bank digital currency (CBDC), EURD is designed to be fully compliant with the Regulation of the Crypto Asset Market (MiCAR), which comprehensively regulates the issuance of electronic currency tokens on a distributed ledger.