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Archax makes abrdn money market fund accessible and transferable on Algorand blockchain using Quantoz EURD electronic money token

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Algorand’s native “no-code” atomic settlement allows for efficient trading without having to rely on smart contract code

BARCELONA, Spain and LONDON and UTRECHT, The Netherlands, June 27, 2024 /PRNewswire/ — Today, the Algorand Foundation, Archax, and Quantoz Payments announced:

The first ever tokenized money market fund has arrived on Algorand following the issuance by Archax of tokenized interests in abrdn’s €3.8 billion Euro Money Market fund1.Integration between Quantoz Payments and Archax allows for the use of EURD electronic money on the Archax digital assets platform.  Native “no-code” atomic settlement of EURD/fund token in peer-to-peer secondary market transactions enables instant execution of interdependent transactions in a predefined order.

Combining robust tokenized assets, on-chain digital money, and native atomic settlement, the partners have been able to illustrate the feasibility and efficiency of moving the end-to-end investment and cash settlement process on-chain: investment, asset transfer, trading, settlement, and distributions. 

Nick Haasnoot, CEO of Quantoz Payments, comments: “The use of EURD to purchase Money Market Funds in tokenized format is a ramp up to deploy more tokenized financial instruments.  Delivery Versus Payment via regulated electronic money will form the basis of an expected wide acceptance of this product, with opportunities for both retail and institutional investors towards a variety of assets.”

Graham Rodford, CEO and co-founder of Archax, comments: “There is now real momentum building for tokenized real-world assets, and yield-bearing, regulated instruments, like money-market funds, are at the forefront of this activity.  Solving the “cash-leg” of on-chain settlement has generally proved more challenging than the “asset-leg” and the use of digitally-native money, like EURD, can be an important tool to unlock the benefits that on-chain financial markets can bring. We are pleased to be working with Algorand and Quantoz to deliver the improved transparency and efficiency that blockchain/DLT offer.”  

Russell Barlow, abrdn’s Global Head of Multi-Asset and Alternative Investment Solutions, commented: “At abrdn, we are committed to leading digital innovation in investment management and are delighted to see continued progress in this field. The development highlights the importance of institutional infrastructure providers, and we congratulate Archax, Quantoz and the Algorand Foundation on this key milestone.” 

“The future of finance is truly instant – including the instant finality of transactions. This partnership between Archax and Quantoz to bring both a digital euro and a tokenized fund to Algorand makes this a reality for registered investors across Europe,” said Eric Wragge, global head of business development and capital markets for the Algorand Foundation. “The impact of combining tokenized assets and a digital euro is significant, and we look forward to bringing even more innovation like this to Algorand’s institutional-grade, quantum-secure blockchain.”

EURD and Quantoz Payments

EURD, a programmable European Union digital euro, is issued on Algorand by Quantoz Payments, an Electronic Money Institution (EMI) authorized and regulated by the Dutch Central Bank.  EURD in issuance are more than covered by a 102% surplus of high quality liquid assets that are subject to strict Central Bank oversight and held in a bankruptcy remote foundation, Stichting Quantoz.  EURD may be created by sending funds via the SEPA payment network and holders have the right to redeem for par value at any time. 

Asset tokenization and Archax

Archax is based in London and is the first-ever firm to be authorized by the UK Financial Conduct Authority (“FCA”) as a digital securities exchange, custodian and brokerage, as well as the first to be listed on the regulator’s Cryptoasset Register.  Consistent with these regulatory permissions and its status as a distributor of abrdn products, Archax is able to a) purchase and hold fund units in bankruptcy remote trust, b) issue Algorand Standard Asset tokens representing beneficial ownership of the underlying fund units, and c) observe the Algorand blockchain to identify peer to peer transfers and ownership changes.  Additionally, given its integration with Quantoz, it is able to accept, distribute, and redeem EURD, which can be used to accept deposits, process withdrawals, distribute coupons, interest pay-outs, or dividends.

Subject to Archax onboarding procedures, qualified investors may invest in, custody, and trade the range of tokenized products available on Archax’s digital assets platform, which includes access to the abrdn’s money market funds.

To abide by AML and regulatory requirements, tokens issued by Archax may only be transferred between wallets whitelisted by Archax.

Transaction orchestration and Algorand

A unique feature of the Algorand blockchain is that atomic swap functionality – controlled exchange of assets if and only if all parties fulfill their side of the bargain- is built into the protocol itself and does not require smart contract programming. Algorand atomic swaps allow for the execution of group transactions, without counterparty risk and with precise transaction ordering, enforced by consensus, a critical requirement of several types of complex financial workflows.

In addition, atomic swaps benefit from Algorand’s instant finality, which means that all transactions are final the moment a new block is created (~ 3 seconds). All interdependent transactions that are part of an atomic swap, are guaranteed to be executed in the same block.

About Quantoz Payments and EURD

Quantoz Payments is incorporated in the Netherlands and is a 100% subsidiary of Quantoz N.V. Quantoz Payments is an issuer of electronic money in the form of e-money tokens. The Company holds an Electronic Money Institution (EMI) license from the Dutch supervisory authority, the Dutch Central Bank.

EURD is the e-money token issued by Quantoz Payments. The funds received in exchange for the e-money tokens are held by Stichting Quantoz, a bankruptcy remote entity, which ensures that these funds are safeguarded following the requirements of MiCAR. The e-money tokens in circulation are 102% overcollateralized. Quantoz Payments and Stichting Quantoz are subject to prudential supervision by DNB.

Notice: The EURD white paper will be published on quantozpay.com. EURD e-money token holders have redemption rights at any time at par value, with redemption terms outlined in the EURD White Paper.

About Archax

Archax is a global, regulated, digital asset exchange, brokerage and custodian based in London. Founded by experts from the financial markets world and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain-centric crypto community and the traditional investment space. Archax is the first-ever firm to receive FCA regulation as a digital securities exchange, custodian and brokerage. It was also the first firm to be listed on the FCA’s Cryptoasset Register as a VASP (Virtual Asset Service Provider). Archax has been designed specifically for institutional investors to trade in all types of digital assets, from cryptocurrencies to digital securities. It is built using existing, proven, resilient, scalable, high-performance exchange infrastructure, hosted in top-tier datacentre space, and integrated into the existing institutional trading workflow. For more information, go to www.archax.com.

About Algorand Foundation
Algorand’s mission is to power a world where information has integrity and innovative ideas can scale. The Algorand Foundation supports Algorand’s rapidly growing ecosystem by providing a best-in-class developer environment, supporting key infrastructure and setting technical standards, offering comprehensive support to builders and entrepreneurs, and providing the infrastructure for decentralized governance.

Founded by Turing Award-winning cryptographer Silvio Micali in 2019, Algorand has grown into a vibrant ecosystem of developers, entrepreneurs, and enterprise partners that benefit from institutional-grade certainty and resilience, while features like low fees, instant finality, and a minimal carbon footprint also appeal to the protocol’s millions of retail users. Builders of all kinds can use common programming languages like Python to develop advanced apps and protocols that solve important problems at a global scale: instant payments in war and disaster zones, self-sovereign identity for the disenfranchised, supply-chain traceability for global commerce, permissionless protocols addressing financial inclusion, and the creation of entirely new markets through tokenization, to name a few. To learn more and start your journey on Algorand, visit algorand.foundation.

1 Assets under management as at 30 April 2024, https://abrdn.kurtosysweb.com/pdfs/F_STDI_en-GB-NN_LU0966092131.pdf

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World-Famous Master Craftsman Completes First-Ever Auto Show Build in Front of Thousands

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NEW YORK, April 26, 2025 /PRNewswire/ — In a two-day, jaw-dropping high-intensity live performance, that made international headlines and lit up social media, legendary Porsche builder Akira Nakai, completed his first-ever auto show build at the 2025 New York Auto Show. The completed vehicle is now on display and can be seen through Sunday, April 27.

Flying in from Japan, Nakai transformed a 2006 Porsche Carrera S into one of his iconic wide-body creations right on the show floor, attracting huge crowds, major media coverage, and going viral across social media. The build took place over April 23 and 24 in the R2XPO Exhibit, where visitors watched, photographed, and filmed the master craftsman in action. From the moment he started cutting to the final bolt, the atmosphere was electric.

The activation quickly went viral, racking up millions of views across TikTok, Instagram, and YouTube within hours. Photos and footage of Nakai San deep in the build process spread like wildfire, turning the R2XPO Exhibit into one of the most talked-about attractions at this year’s Show.

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SOURCE New York International Auto Show

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Where the World Smiles Together: Honouring Hospitality on April 24

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International Hospitality Council and IIHM Lead Global Tribute to Hospitality’s Human Touch

LONDON and KOLKATA, India, April 26, 2025 /PRNewswire/ — Hospitality is an industry of hope and growth. It spans snow-capped mountains, sunny beaches, forests, and deserts—where dreamers, innovators, and doers work every day to deliver comfort and happiness.

On April 24, International Hospitality Day (IHD) 2025 was celebrated globally by professionals and institutions across over 60 countries. The virtual programme was hosted by the International Hospitality Council (UK) and the International Institute of Hotel Management (IIHM), India’s largest and premier multi-campus institute for hospitality education.

“I realised there’s a day for every profession – except for one dedicated to those whose mission is to bring joy to others: the hospitality industry. And so, International Hospitality Day was born on April 24,” said Dr Suborno Bose, Creator of IHD, Chairman of IHC, and Chairman of IIHM & Indismart Group, Worldwide.

Established in 2016 by the International Hospitality Council (IHC) and IIHM, IHD was born out of a shared vision between Prof. David Foskett, OBE, Chairman of IHC London, and Dr Suborno Bose. It unites hospitality, travel, and tourism professionals to exchange ideas, promote excellence, and build a spirit of global solidarity.

The IHC continues to champion the hospitality sector worldwide by encouraging collaboration, shaping forward-thinking policy, and promoting education and employment. As in previous years, this year’s celebration featured the Virtual Global Hospitality Summit, where industry leaders reflected on challenges, shared insights, and honoured hospitality’s human essence.

“There was a day for everyone,” Dr Bose reiterated, “but none for hospitality. We created that day.”
“IHD stands on three pillars: Promote, Educate, Celebrate.”

He also underscored IHC and IIHM’s commitment to sustainability, youth enterprise, and initiatives like Young Chef India, which identifies and supports the country’s top culinary student to represent India at the Young Chef Olympiad, the world’s largest gathering of student chefs.

Prof. David Foskett, OBE, echoed the spirit of IHD:

“Hospitality is simple. Speak from the heart. Make people happy. Create careers and contribute to the economy. Most importantly, say thank you – especially to our students.”
“A country without hospitality is barren. A country with hospitality is fertile.”

Two key panel discussions were held during the summit:

Hospitality in the Age of Artificial Intelligence
Moderated by Prof. Neil Rippington (International Director, IIHM), with speakers:Ms Riya Mittal, Product Manager and MSc Engineering Management, USCMr Michael Grove, CEO – HotstatsMs Alexandra Janosek, Instructional Designer, Worldwide Curriculum DesignProf. Sandip Mukherjee, Professor Emeritus – IIHM

While technology is revolutionising efficiency and guest experience, the panel agreed that the essence of hospitality—its heart and human touch—remains irreplaceable.

Hospitality: India’s New Growth Story
Moderated by Diwan Gautam Anand, President of the IIHM International College of Distinguished Fellows, the panel featured:Mr K Mohan Chandran, Sr Vice President Operations, Taj HotelsMichelin-starred Chef Chris GalvinMr Yogendra Agnihotri, Sr Regional Director (North and East), Radisson HotelsMs Jyoti Mayal, Chairperson, THSC & President, TAAIMr Rajiv Kapoor, GM, Fairmont Mumbai

The consensus: India is setting a global example by listening, innovating, and serving from the heart—because, as noted, “an unhappy customer doesn’t complain, she simply leaves.”

The celebration paused for a moment of silence in memory of those lost in the Pahalgam tragedy.

Diwan Gautam Anand, iconic hospitality leader and President of FIIHM, closed the summit with a poignant message:

“Thank you for being present on such a landmark day. It is dedicated to all of us who know that time doesn’t erase, it transforms.”

This year’s IHD also witnessed the induction of 65 new Esteemed Fellows into the IIHM International College of Distinguished Fellows (FIIHM). Guided by the motto Fiat Lux (Let there be light), FIIHM is committed to mentoring and shaping future hospitality leaders.

The selection panel included:

Prof. David Foskett, OBE, Chairman – IHC LondonDr Suborno Bose, Chairman – IHC & IIHMMr Ron Scott FIH, International Director, Indismart Group; Director/Secretary, IHC Foundation; Director, APIU Global Limited, UKMr Nakul Anand, Former Executive Director, ITC LtdDiwan Gautam Anand, President, IIHM International College of Distinguished Fellows

Special awards were presented to honour excellence and dedication in the industry. Icons from around the globe extended their wishes.

“This is to express gratitude to Suborno Bose for coining today as International Hospitality Day,” said Mr Puneet Baijal, General Manager, Hyatt Regency Ahmedabad (FIIHM). “IIHM has become an integral part of the industry, and its students are among the best.”

Mr K Mohan Chandran, Sr Vice President Operations, IHCL (FIIHM 2025), stated, “This day honours the global fraternity of hospitality professionals and acknowledges the dedication of team members who make guests feel at home.”

Chef Garry Mclean, the first National Chef of Scotland (FIIHM), added, “Let’s raise a glass to the dedication and resilience of those who make this industry what it is – from chefs to servers to housekeeping staff.”

The World’s Warmest Industry truly had its day. But hospitality is not just about one day—it’s about every day. IHD has become one of the largest global celebrations of unity and inclusivity – a tribute to the human spirit in a world that needs many helpings of kindness to be satiated and at peace.

Contact: Mr. Sujay Gupta, +91 9923057937

Photo – https://mma.prnewswire.com/media/2673903/World_Smiles_Together.jpg

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ARBOR Technology to Showcase Latest Automation Solutions at Automate 2025, Powering Machine Vision, AMR, and Smart Retail Applications

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DETROIT, April 26, 2025 /PRNewswire/ — ARBOR Technology, a leading provider of industrial-grade embedded computing solutions, is excited to announce its participation in Automate 2025, taking place in Detroit, USA, from May 12–15. Located in Hall E, Booth #9126.

Engineered for advanced automation tasks, the FPC-5211 supports powerful edge computing for real-time data processing and AI inference. Ideal for machine vision and smart city applications, it handles data from multiple sources—LiDAR, industrial cameras, traffic sensors—with low latency and high efficiency. This platform recently earned the Best in Show award from Embedded Computing Design at Embedded World 2025.

Designed for flexible industrial deployment, the ARES-1983H series features a din-rail mount and EzIO modular I/O system, allowing customers to easily customize configurations for factory automation, process control, and machine interfacing.

ARBOR introduces the ARTS-1670 and SB-244-RPLU for autonomous mobile robots (AMR) and automated guided vehicles (AGV). Engineered for performance and durability, these systems meet the rigorous demands of real-time navigation, sensor integration, and operational control in dynamic environments.

Built for real-time video and language model (VLM) applications, the AEC-6100 delivers top-tier AI performance at the edge. Ideal for smart surveillance, automated inspection, and robotics, it reduces latency and enhances on-site processing without compromising security.

Powered by Intel® Core™ Ultra processors, the IEC-3714 delivers 34 TOPS of AI performance in NUC size. It supports real-time video analytics for age, gender, and object recognition, enabling automated decision-making for promotions, restocking, and customer engagement.

With its MediaTek MT8781 processor and Android 14 OS, the Ruby 10 is built for mobility, featuring Wi-Fi 6E, 4G connectivity, and hot-swappable batteries for 24/7 operation. Designed for retail and logistics, it supports NFC payments, and has IP65 and 1.2m drop certifications for dependable performance in harsh environments.

ARBOR will also unveil its latest Computer-on-Module solution, offering exceptional computing scalability based on Intel’s Core Ultra and Arrow Lake platforms. These modules are optimized for embedded applications requiring compact, high-performance solutions with broad customization options.

Stanley, General Manager of ARBOR Solution, commented: “We are proud to return to Automate 2025 with a strong lineup of automation-focused solutions. Our innovations not only address the needs of traditional industrial applications but also support emerging technologies like AI and edge computing.”

Automate 2025
Detroit, Huntington Place
May 12-15
Hall E – #9126

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SOURCE ARBOR Technology

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