GLOSSARY · BLOCKCHAIN & WEB3
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? · FOR 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.
01 / 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 authorized institutions.