Quantoz Fintech startup receives grant from Algorand
Algorand, P2P platform for bonds and emoney, has awarded a grant to Quantoz, a FinTech startup to build bond and e-money platform that will provide SME’s in Europe easier access to capital markets. It will make use of tokeized bonds and e-money on the Algorand blockchain using layer-1 technologies and will be managed by Quantoz’ NEXUS technology.
‘SMEs play a vital role in our economy, unfortunately, these companies often have difficulties with getting access to external debt. Our Algorand based solution, enables tokenised bonds to be directly issued and traded for e-money. This improves many parts of the bond issuance and trading process and will help SMEs to get loans’ ‘, says Henri de Jong, Quantoz co-founder and CBDO. ‘As an ISO 27001 and ISAE 3402 Type 1 certified company, the sustainability, reliability and performance of Algorand’s blockchain technology perfectly fits with our product strategy’.
‘We’re delighted to support the Quantoz grant application and we welcome them to the Algorand ecosystem. Algorand’s Layer-1 blockchain is scalable, secure, fast, final, low cost and sustainable – making it an ideal platform for Quantoz’s peer-to-peer platform for bonds, e-money and other tokenized assets. Our partnership will serve to provide a new use case for the Algorand ecosystem and much needed new opportunities for SME’s’ says Sean Lee, CEO of the Algorand Foundation.