Home Business Utrecht company registers its own cryptocurrency with the EU

Utrecht company registers its own cryptocurrency with the EU

Nederlandse primeur: Utrechts bedrijf registreert eigen crypto bij EU

Quantoz Payments, a Dutch electronic payment services company, successfully registered its own stablecoin as a community trademark in the European Union. The company receives successful registration with the European Union Intellectual Property Office (EUIPO).

This important registration provides protection for the EURD brand, Qauntoz Payments’ stablecoin, in all European countries. Due to the trademark registration, Quantoz, the parent company of Quantoz Payments, expects the number of EURD coins in circulation to increase rapidly.

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EURD guarantees security and transparency

The blog post emphasizes that the stablecoin EURD is safe to use. Unlike other stablecoins, it is fully backed by funds in escrow. To prevent fraud, experts from recognized accounting firms regularly audit this Quantoz Foundation account.

Quantoz also values ​​user privacy and assures them that they remain in control of what information they share. According to the Dutch FinTech company, EURD users can check its circulation in real time via AlgoExplorer.

“Quantoz Payments is transparent and users can check the amount of EURD in circulation at any time via AlgoExplorer. At the same time, we value user privacy so that they remain in control of what information they share,” said Henri de Jong, Director of Business Development at Quantoz.

Qauntoz Payments issues EURD on the Algorand blockchain

Qauntoz Payments launched its EURD stablecoin, also known as Quantoz Digital Euro, in October. Shortly thereafter, the company launched the stablecoin on the Algorand blockchain, known for the ALGO token.

The company releases up to 500,000 EURD on the Algorand network. Qauntoz Payments does this under the Dutch e-money license. This official license allows the payment service provider to issue regulated digital euros on the blockchain.

With the recent token registration and issuance, EURD positions itself as the largest official Euro-backed stablecoin on the Algorand blockchain. Additionally, according to Qauntoz Payments, EURD was developed to comply with the Markets in Crypto Assets Regulation (MiCA). This is a comprehensive regulation for the issuance of electronic money tokens (EMT), crypto and stablecoins.

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