Utrecht, October 19, 2023. – Quantoz Payments, a pioneer in the world of digital currencies and financial technology, is delighted to introduce EURD, the Quantoz digital euro. EURD is a regulated and programmable electronic money token designed to address the lack of trusted digital euros.
Quantoz Payments is the issuer of EURD and qualifies as an electronic money institution. It operates under the supervision of the Dutch Central Bank (DNB) [and is registered in DNB’s register of financial institutions]. “Our Electronic Money Institution (EMI) license empowers Quantoz Payments to issue digital euros on a public blockchain, effectively establishing these euros as an official payment instrument. Users can confidently redeem their digital euros, as they are 100% backed by funds held in a trust account managed by the Quantoz Foundation and audited by an accredited accounting firm”, says Nick Haasnoot, Quantoz CEO.
It is important to note that EURD is not a cryptocurrency or a stablecoin but an electronic money token (EMT) that is also distinct from central bank digital currencies (CBDCs). EURD is designed to be compliant with the recently adopted Markets in Crypto Assets Regulation (MiCAR), which has brought comprehensive regulation to the issuance of electronic money tokens on distributed ledgers.
It is expected that by the end of this year, EURD and the e-money services will become available to all businesses and consumers within the European Economic Area, regardless of whether they have a traditional bank account. EURD opens the door for payments to internet-connected devices, avatars, and plays a pivotal role in enabling the WEB3 economy. With the Quantoz euro, microtransactions become economically viable, enabling scenarios like paying sensors for data, machine-to-machine transactions, and more.
EURD goes beyond being a regulated digital euro and offers a range of compelling features, including robust privacy, transaction fee coverage, and the ability to program money for increased efficiency and cost-effectiveness.
Quantoz, founded in 2015 and operating from its office in Utrecht, the Netherlands, is focused on building blockchain technology-based solutions. Quantoz brings substantial experience in working with large corporates and delivering mission-critical infrastructure but also successfully works with small and disruptive startups.
Quantoz Payments is a 100% daughter company of Quantoz. Its e-money license allows Quantoz Payments to issue regulated digital euros on the blockchain.
For more information about Quantoz Payments and EURD, please visit our website www.quantozpay.com
Chief Executive Officer
Quantoz Payments B.V.
+31 6 14812206