FAME integrates Quantoz’ EURD
FAME integrates Quantoz’ EURD to unlock digital transformation of commerce in Eurozone Agriculture
Paris, Utrecht, June 24th – The European agricultural sector is set for a significant transformation through the partnership between FAME and Quantoz Payments, issuer of the premier Electronic Money Token (EMT) behind EURD Payments.
Using blockchain technology, FAME empowers market participants with digital solutions using advanced technology like wallets and smart contracts. Quantoz Payments issues the EURD, Europe’s premier regulated E-Money Token (“EMT”). Through this partnership, FAME and Quantoz bring new financial and digital opportunities to the agricultural sector in Europe.
FAME uses blockchain technology to improve transparency and reduce reliance on intermediaries in the commercial activities in agriculture. The company expects that by integrating EURD, its users will further benefit from enhanced financial inclusion, improved access to micro-lending, and reduced reliance on banks for day-to-day transaction services.
By using EURD, the users will reduce the costs of payments to zero and achieve immediate settlement. Programmability through smart contracts will enable conditional releases of payments, thereby accelerating working capital cycles and at the same time enhancing control over payment versus delivery.
“At FAME, we are thrilled about our partnership with Quantoz. This collaboration enables us to integrate innovative and secure payment solutions, building trust in digital currencies across Europe. Together, we are paving the way for a more inclusive and transparent financial ecosystem, empowering farmers worldwide.”
– Bilal Brahim, Founder of FAME.
EURD, a programmable European Union digital euro, is issued on Algorand by Quantoz Payments, an Electronic Money Institution (EMI) authorized and regulated by the Dutch Central Bank. EURD in issuance are 102% backed by high quality liquid assets like cash and overnight government bonds held in a bankruptcy remote foundation, Stichting Quantoz. The company and the foundation themselves are prudentially supervised by the Dutch Central Bank. EURD may be issued by sending funds via the SEPA payment network and holders have the right to redeem for par value at any time.
“This collaboration illustrates a great use case for the combination of blockchain technology and e-money regulation. Under EU regulation, e-money tokens can be trusted to have the liquidity and functionality of regular euros. By using Algorand’s blockchain as the technology infrastructure for this e-money, we can enhance these regular euros with incredible speed and cost benefits, as well as the ability to improve user experiences and create new business models.”
– Henri de Jong, Co-founder of Quantoz Payments.
The FAME and EURD partnership symbolizes progress in Eurozone agriculture, showcasing blockchain technology’s potential to transform industries by focusing on user needs and financial stability.
About FAME
FAME (Financial and Agricultural Management Ecosystem) empowers farmers by integrating advanced fintech services into the agricultural sector. Utilizing blockchain technology, FAME provides a secure and transparent platform where farmers can access essential financial services, such as digital wallets, microloans, and smart contracts. These tools enable farmers to bypass traditional banking barriers, reduce transaction costs, and receive timely payments. FAME also offers direct access to markets through its food and job marketplaces, enhancing profitability and market reach. By fostering financial inclusion and economic empowerment, FAME revolutionizes the agricultural value chain, driving sustainable development and improved livelihoods for farmers worldwide.
About Quantoz Payments
Quantoz Payments is incorporated in the Netherlands and is a 100% subsidiary of Quantoz N.V. Quantoz Payments is an issuer of electronic money in the form of e-money tokens. The Company holds an Electronic Money Institution (EMI) license from the Dutch supervisory authority, the Dutch Central Bank.
