Archax makes abrdn’s €3.8 billion Euro Money Market fund accessible and transferable on Algorand blockchain using Europe’s first fully regulated digital euro Quantoz EURD electronic money token.
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https://archax.com/invest/abrdn-euro
Integration between Quantoz Payments and Archax allows for the use of EURD electronic money on the Archax digital assets platform.
Native “no-code” atomic settlement of EURD/fund token in peer-to-peer secondary market transactions enables instant execution of interdependent transactions in a predefined order.
Algorand’s native “no-code” atomic settlement allows for efficient trading without having to rely on smart contract code.
Combining robust tokenized assets, on-chain digital money, and native atomic settlement, the partners have been able to illustrate the feasibility and efficiency of moving the end-to-end investment and cash settlement process on-chain: investment, asset transfer, trading, settlement, and distributions.
Nick Haasnoot, CEO of Quantoz Payments, comments: “The use of EURD to purchase Money Market Funds in tokenized format is a ramp up to deploy more tokenized financial instruments. Delivery Versus Payment via regulated electronic money will form the basis of an expected wide acceptance of this product, with opportunities for both retail and institutional investors towards a variety of assets.” Graham Rodford, CEO and co-founder of Archax, comments: “There is now real momentum building for tokenized real-world assets, and yield-bearing, regulated instruments, like money-market funds, are at the forefront of this activity. Solving the “cash-leg” of on-chain settlement has generally proved more challenging than the “asset-leg” and the use of digitally-native money, like EURD, can be an important tool to unlock the benefits that on-chain financial markets can bring. We are pleased to be working with Algorand and Quantoz to deliver the improved transparency and efficiency that blockchain/DLT offer.” Russell Barlow, abrdn’s Global Head of Multi-Asset and Alternative Investment Solutions, commented: “At abrdn, we are committed to leading digital innovation in investment management and are delighted to see continued progress in this field. The development highlights the importance of institutional infrastructure providers, and we congratulate Archax, Quantoz and the Algorand Foundation on this key milestone.” The future of finance is truly instant – including the instant finality of transactions. This partnership between Archax and Quantoz to bring both a digital euro and a tokenized fund to Algorand makes this a reality for registered investors across Europe*,*” said Eric Wragge, global head of business development and capital markets for the Algorand Foundation. “The impact of combining tokenized assets and a digital euro is significant, and we look forward to bringing even more innovation like this to Algorand’s institutional-grade, quantum-secure blockchain.
EURD is Europe’s first fully regulated digital Euro.
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.
EURD is the e-money token issued by Quantoz Payments. The funds received in exchange for the e-money tokens are held by Stichting Quantoz, a bankruptcy remote entity, which ensures that these funds are safeguarded following the requirements of MiCAR. The e-money tokens in circulation are 102% overcollateralized. Quantoz Payments and Stichting Quantoz are subject to prudential supervision by Dutch Central Bank.
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