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The Dawn of a New Era: The Programmable Euro on Algorand

By November 16, 2023No Comments3 min read
November 16 2023 The Dawn of a New Era The Programmable Euro on Algorand


In a landmark development for the digital currency landscape, Quantoz Payments has launched a regulated and programmable euro, named EURD, on the Algorand network. This advancement, under the supervision of the Dutch Central Bank, marks a significant stride in the fusion of traditional finance with the innovative potential of blockchain technology.

The Genesis of Quantoz and Algorand’s Collaboration

Quantoz, established in 2015, has been at the forefront of developing blockchain-based solutions. The company’s expertise in digital currencies and financial technology has led to the creation of Quantoz Payments, a subsidiary fully dedicated to the issuance of EURD​​.

Algorand Foundation, responsible for promoting and governing the Algorand blockchain, plays a pivotal role in this collaboration. Algorand, envisioned by MIT professor and Turing Award-winning cryptographer Silvio Micali, offers a platform capable of high-speed transactions with instant finality, minimal costs, and round-the-clock operation​​.

The Revolutionary EURD: Not Just Another Digital Currency

The EURD stands apart from typical cryptocurrencies or stablecoins. It is an Electronic Money Token (EMT), distinct from Central Bank Digital Currencies (CBDCs). This distinction underscores its unique role and regulatory compliance, particularly with the Markets in Crypto Assets Regulation (MiCAR), ensuring a secure and regulated framework for digital transactions​​​​.

The EURD is expected to be available to all businesses and consumers within the European Economic Area by the end of the year, offering a wide range of applications from internet-connected device payments to enabling the Web3 economy​​.

Features and Benefits of EURD

The programmable nature of EURD goes beyond conventional digital currencies. It offers robust privacy, transaction fee coverage, and the ability to program money for increased efficiency and cost-effectiveness. This functionality is crucial for facilitating microtransactions and machine-to-machine transactions, creating new economic scenarios and efficiencies​​.

Technical Excellence and Broad Accessibility

Quantoz’s CTO, Gaston Hendriks, emphasizes that Algorand meets all requirements for issuing regulated digital euros on a public blockchain, including the ability to process thousands of transactions per second with instant finality. The platform is designed to be accessible even to developers with limited blockchain expertise, via APIs or an open-sourced payment app​​.

Eric Wragge, Global Head of Business Development at Algorand Foundation, commends Quantoz for achieving this milestone and expresses enthusiasm for future use-case development and product rollout​​.


The launch of EURD on the Algorand network by Quantoz Payments is a significant leap forward in digital finance, blending regulatory safety with the innovative possibilities of blockchain technology. As this programmable euro becomes accessible to a wider audience, it paves the way for a more efficient, secure, and inclusive digital economy.

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With over 7 years of hands-on experience as a crypto investor and an additional 12 years observing the industry, I've witnessed the evolution of the crypto landscape firsthand. My journey has been marked by significant successes, but not without its fair share of learning experiences. I'm eager to impart my insights to you, helping you navigate this space without repeating the missteps I encountered.

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