Quantoz Payments announces the successful registration of EURD as a community trademark at the European Union Intellectual Property Office (EUIPO). At the same time, Quantoz Payments has issued 500K EURD on Algorand under its Dutch e-money licence, making EURD the largest Euro-backed token on Algorand, according to DeFillama.
“The registration provides protection for the EURD trademark in all EU countries”, says Henri de Jong, Chief Business Development Officer at Quantoz. “We expect the amount of EURD in circulation to increase rapidly in the coming months, also because we are passporting our EMI license to other EEA countries, allowing our services to be used in those countries. Quantoz Payments is transparent, and users can check the amount of EURD in circulation at any time using AlgoExplorer. At the same time, we prioritize user privacy, ensuring that users retain control over what information they share”, he continued.
As an electronic money institution issuing an official payment instrument, holders can confidently redeem their EURD, which are 100% backed by funds held in a third-party account, managed by the Quantoz Foundation, and audited by an accredited accounting firm at any time. That is not the case with stablecoins. Companies must report their profits or losses when redeeming stablecoins at exchanges, which is cumbersome.