E-money token (EMT)
Definition
An e-money token is a type of stablecoin defined under MiCA that references a single official currency, such as the euro or the US dollar, and carries a redemption right at par against its issuer.
An e-money token, or EMT, is one of the two stablecoin categories defined under MiCA. It references a single official currency and is designed to hold a stable value against it, with a redemption right at par against the issuer. EMTs are the category most payment stablecoins fall into, because a token pegged one-to-one to a currency is what businesses need for pricing and settlement. Stablecoins used for payments in the European Union are generally issued as e-money tokens.
Further reading
Read Stablecoins under MiCA: what regulated institutions need to know for how this fits into Damex stablecoin infrastructure.
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