EMT (E-Money Token)

An EMT is a crypto-asset regulated by MiCA that keeps its value referenced to a single official currency.

What is it? - Dummies

An EMT is the digital equivalent of a euro or a dollar in token form: for every token issued there is, in theory, one unit of that currency held behind it. It works like ordinary electronic money, but on a blockchain. It is the single-currency stablecoin, designed to pay and transfer at a stable value.

What is it? - PRO

An EMT (E-Money Token) is, under MiCA Regulation (EU) 2023/1114, a crypto-asset that aims to maintain a stable value by referencing the value of a single official currency.

It is treated as electronic money for the purposes of Directive 2009/110/CE (EMD2) and may only be issued by a credit institution or an electronic money institution, with the holder entitled to redemption at par. It differs from the ART, which references a basket of assets or several currencies.

Key points

A crypto-asset category defined by MiCA.
References the value of a single official currency.
Treated as electronic money (Directive 2009/110/CE).
Redeemable at par; issuance reserved to authorised institutions.

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