According to Foresight News, Algorand Foundation has announced that blockchain technology solution Quantoz has obtained an Electronic Money Institution (EMI) license under the supervision of the Dutch Central Bank. This allows Quantoz to issue the first regulated and programmable digital euro, EURD, on the Algorand network. Algorand states that EURD is not a cryptocurrency or stablecoin, but an electronic money token (EMT), which is different from central bank digital currencies (CBDC). The design of EURD complies with the European Union's crypto asset market regulation act (MiCAR).