Quantoz Payments Announces the Launch of a Regulated And Programmable Euro on the Algorand Network

TLDR: “Quantoz Payments … has been licensed as an electronic money institution (EMI) under the supervision of the Dutch Central Bank and permitted to issue its first regulated and programmable euro legal tender, the EURD, on the Algorand network.
‍ 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 … With the Quantoz euro, microtransactions become economically viable, enabling scenarios like paying sensors for data, machine-to-machine transactions, and more …

Following an extensive due diligence and technical review process, Algorand met all the requirements for issuing regulated digital euros on a public blockchain …

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) … “