THEUR is the crypto currency which has just been presented during the Blockchain Expo held in Amsterdam on 19th and 20th June. It has first been offered by Em@ney to its clients thanks to its partnership with TICHEX, a company created to exploit the potential of blockchain in the banking sector which has launched the platform from where THEUR has emerged.
THEUR is stable coin, a currency whose value is tied to a FIAT currency (EURO), therefore, provides financial stability and overcomes the reserves that have been faced with these new forms of monetary exchange.
Unlike several cryptocurrencies, mostly derived from a complex ‘mining’ activity and then exchanged on the market without dependable exchange references, THEUR is generated directly by the user after the transfer of an equal amount of EURO against its fixed 1:1 exchange rate. THEUR can then be used for daily payments such as utility bills or on-line shopping; therefore, for any payment and financial transactions.
The user will have an electronic wallet containing the quantity of THEUR which he generated and which he has not spent. He will then use the THEUR currency via an Em@ney card (Master Card circuit) or by accessing his ON-LINE account from his Em@ney home banking Website.
The THEUR available can be exchanged for Euros whether as a whole or in part at any time.
This will be done at the fixed 1:1 rate of exchange guaranteed by the TICHEX -Em@ney agreement.
The THEUR generated through the TICHEX platform is protected by the MFSA (Malta Financial Service Authority), under whose control, Em@ney operates under EMI (Electronic Money Institution) license obtained in 2013. This license imposes the offering of guarantees on funds deposited by clients and does not allow charge of financial interest in order to avoid the risks normally related to traditional banking activity.
‘We have followed the TICHEX project since its inception’, Germano Arnò, Em@ney’s CEO, said ‘and we have partaken in ensuring its full compliance with the strict European regulations imposed on all financial institutions such as AML (Anti-money laundering) and the protection of current account holders. The basic characteristics of THEUR are transparency and simplicity of use.
Innovative technology which is part of our company’s DNA is the characteristic of the project that the team as put together. We have supported the project from the start and we have not imposed any exclusivity, any other E.U. banking institutions can offer, to their clients, the availability of creating their own cryptocurrency, without having to develop particular technical nor financial competences. Of course, a client whose bank does not offer this service and who wishes to generate THEUR currency is welcome to open an ON-LINE Em@ney account, and have within a very short lapse of time an electronic wallet with his own cryptocurrency’.
Issued by: Giampiero Moncada firstname.lastname@example.org +39 3207228720 email@example.com Em@ney plc – Licenced by MFSA under the European E-Money Directive – licence details at www.mfsa.com.mt Regent House, 4/45 – Bisazza Street – Sliema SLM1640 – Malta firstname.lastname@example.org – www.emoney.com.mt