Quantoz Payments, a subsidiary of Dutch blockchain firm Quantoz, has secured a license as an electronic money institution (EMI) under the oversight of the Dutch Central Bank.
The authorization empowers Quantoz Payments to issue its inaugural regulated and programmable euro legal tender, EURD, on the Algorand network.
Launching EURD on the Algorand Blockchain
Anticipated by year-end, EURD and its associated e-money services are poised to become accessible to businesses and consumers throughout the European Economic Area, irrespective of whether they possess a traditional bank account.
The introduction of EURD opens avenues for payments to internet-connected device avatars and plays a crucial role in facilitating the Web3 economy. The Quantoz euro makes microtransactions economically viable, enabling scenarios such as compensating sensors for data, facilitating machine-to-machine transactions, and more.
EURD transcends the status of a regulated digital euro, offering a spectrum of compel
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