10-20-2022, 04:22 PM
Regulatory breakthrough: ZTLment becomes Europe’s first payments institution built
<!-- SC_OFF --><div class="md"><h1>This is absolutely huge news but no one is talking about it.</h1> <p>​</p> <blockquote> <p><strong>For the first time, an EU supervisory authority grants a payments institution licence to a company where blockchain rails are used to move funds. The company, Ztlment, developed smart contract software to move euros peer-to-peer on blockchain in full PSD2 compliance. With its solution, digital marketplaces and cloud-based B2B platforms can move money and value instantly and automatically between buyers, sellers and financiers.</strong> </p> <p><strong>ZTLment is a European payment service provider offering smart contract software that is fully compliant with PSD2. With a snippet of code, digital marketplaces and cloud-based B2B platforms can offer business workflows, which instantly and automatically move money and value between buyers, sellers and financiers.</strong></p> </blockquote> <p><a href="https://www.ztlment.com/"><strong>https://www.ztlment.com/</strong></a></p> <p>​</p> <p>This is what the future of finance looks like and is why so many people in traditional finance are making the leap to blockchain and DeFi, it's a one way transition. Legacy banking systems are old and antiquated and are the source of so much unnecessary friction:</p> <p><a href="https://presswire.com/content/6032/regulatory-breakthrough-ztlment-becomes-europes-first-payments-institution-built">https://presswire.com/content/6032/regulatory-breakthrough-ztlment-becomes-europes-first-payments-institution-built</a></p> <blockquote> <p>“Our goal is to build a completely frictionless system where business partners don’t have to bother with complex banking infrastructure nor deal with volatile crypto currency, unregulated stablecoins or complicated consensus mechanisms,” says co-founder and CEO, Mads Stolberg-Larsen.</p> </blockquote> <p>​</p> <p>This is what one of the founders had to say about why they chose Algorand:</p> <p><a href="https://twitter.com/mads_stolberg/status/1582669492097757184">https://twitter.com/mads_stolberg/status/1582669492097757184</a></p> <blockquote> <p>Why Algorand? Well, it has some nice technical features if you want to do regulated enterprise stuff, which we do. </p> <p>For one, It is fast and cheap, due to its proof-of-stake consensus mechanism, which has been live for years. Besides that, the programming language, TEAL, has design features, which has prioritised security over flexibility, which is nice in a business context. </p> <p>Naturally, we following the Ethereum Merge developments closely (as in I had to see it live!). In general it will be super intersting to see what will happen around EVM compatible chains in the coming months and years. </p> <p>However, now that we secured the payments institution license, we do want to celebrate that </p> <p><a href="https://twitter.com/silviomicali">@silviomicali</a> and <a href="https://twitter.com/Algorand">@Algorand</a> team built some solid tech!</p> </blockquote> <p>​</p> <p>2022 has been an amazing year for crypto despite the bear market and overall macro-economic situation.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/gigabyteIO"> /u/gigabyteIO </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y8lvno/regulatory_breakthrough_ztlment_becomes_europes/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y8lvno/regulatory_breakthrough_ztlment_becomes_europes/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><h1>This is absolutely huge news but no one is talking about it.</h1> <p>​</p> <blockquote> <p><strong>For the first time, an EU supervisory authority grants a payments institution licence to a company where blockchain rails are used to move funds. The company, Ztlment, developed smart contract software to move euros peer-to-peer on blockchain in full PSD2 compliance. With its solution, digital marketplaces and cloud-based B2B platforms can move money and value instantly and automatically between buyers, sellers and financiers.</strong> </p> <p><strong>ZTLment is a European payment service provider offering smart contract software that is fully compliant with PSD2. With a snippet of code, digital marketplaces and cloud-based B2B platforms can offer business workflows, which instantly and automatically move money and value between buyers, sellers and financiers.</strong></p> </blockquote> <p><a href="https://www.ztlment.com/"><strong>https://www.ztlment.com/</strong></a></p> <p>​</p> <p>This is what the future of finance looks like and is why so many people in traditional finance are making the leap to blockchain and DeFi, it's a one way transition. Legacy banking systems are old and antiquated and are the source of so much unnecessary friction:</p> <p><a href="https://presswire.com/content/6032/regulatory-breakthrough-ztlment-becomes-europes-first-payments-institution-built">https://presswire.com/content/6032/regulatory-breakthrough-ztlment-becomes-europes-first-payments-institution-built</a></p> <blockquote> <p>“Our goal is to build a completely frictionless system where business partners don’t have to bother with complex banking infrastructure nor deal with volatile crypto currency, unregulated stablecoins or complicated consensus mechanisms,” says co-founder and CEO, Mads Stolberg-Larsen.</p> </blockquote> <p>​</p> <p>This is what one of the founders had to say about why they chose Algorand:</p> <p><a href="https://twitter.com/mads_stolberg/status/1582669492097757184">https://twitter.com/mads_stolberg/status/1582669492097757184</a></p> <blockquote> <p>Why Algorand? Well, it has some nice technical features if you want to do regulated enterprise stuff, which we do. </p> <p>For one, It is fast and cheap, due to its proof-of-stake consensus mechanism, which has been live for years. Besides that, the programming language, TEAL, has design features, which has prioritised security over flexibility, which is nice in a business context. </p> <p>Naturally, we following the Ethereum Merge developments closely (as in I had to see it live!). In general it will be super intersting to see what will happen around EVM compatible chains in the coming months and years. </p> <p>However, now that we secured the payments institution license, we do want to celebrate that </p> <p><a href="https://twitter.com/silviomicali">@silviomicali</a> and <a href="https://twitter.com/Algorand">@Algorand</a> team built some solid tech!</p> </blockquote> <p>​</p> <p>2022 has been an amazing year for crypto despite the bear market and overall macro-economic situation.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/gigabyteIO"> /u/gigabyteIO </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y8lvno/regulatory_breakthrough_ztlment_becomes_europes/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/y8lvno/regulatory_breakthrough_ztlment_becomes_europes/">[comments]</a></span>