Quantoz Payments announces the successful registration of EURD as a communitytrademark at the European Union Intellectual Property Office (EUIPO). At thesame time, Quantoz Payments has issued 500K EURD on Algorand under its Dutch e-money licence, making EURD thelargest Euro-backed token on Algorand, according to DeFillama.
“The registration provides protection for the EURD trademark in all EUcountries”, says Henri de Jong, Chief Business Development Officer at Quantoz. “Weexpect the amount of EURD in circulation to increase rapidly in the comingmonths, also because we are passporting our EMI license to other EEA countries,allowing our services to be used in those countries. Quantoz Payments istransparent, and users can check the amount of EURD in circulation at any timeusing AlgoExplorer. At the same time, weprioritize user privacy, ensuring that users retain control over whatinformation they share”, he continued.
As an electronic money institution issuing an official paymentinstrument, holders can confidently redeem their EURD, which are 100% backed byfunds held in a third-party account, managed by the Quantoz Foundation, andaudited by an accredited accounting firm at any time. That is not the case withstablecoins. Companies must report their profits or losses when redeemingstablecoins at exchanges, which is cumbersome.
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