Fiat Republic Netherlands B.V.: EagleNet E-Money Tokens (EMTs)
This page provides product and regulatory information about EagleNet e-money tokens. It is intended to be fair, clear, and not misleading. It does not constitute investment advice.
Overview
EagleNet Euro (ENEUR) and EagleNet GBP (ENGBP) are e-money tokens issued by Fiat Republic Netherlands B.V. They are available exclusively to Members of the EagleNet instant liquidity network. The tokens enable real-time transaction monitoring and settlement through corporate liquidity wallets and support Members' MiCA safeguarding requirements. Each token is designed to be pegged 1:1 to its reference currency and to facilitate efficient cross-member transactions and liquidity management within EagleNet's 24/7 settlement infrastructure.
Naming note: "EagleNet Coin" on legacy pages refers to the EagleNet e-money tokens ENEUR and ENGBP.
Current tokens
- ENEUR — references 1 euro.
- ENGBP — references 1 pound sterling.
Key features
Regulatory framework: Issued under the Markets in Crypto Assets Regulation (MiCA), Title IV for e-money tokens (Regulation (EU) 2023/1114).
Par convertibility: Redemption at par value in the referenced currency, subject to identity and compliance checks.
Reserves and safeguarding: Funds received for EMT issuance are held in segregated accounts by Stichting Custodian Fiat Republic (Fiat Republic Foundation I) on behalf of holders. A separate Dutch foundation (Fiat Republic Foundation II) safeguards EMT private keys and maintains segregated on-chain addresses.
Monitoring and controls: Real-time monitoring of mint, burn, and transfer events across the closed ecosystem for authorised Members.
Access model: A closed ecosystem for authorised, licensed CASPs who are Fiat Republic customers. End users access EMTs via those Customers, subject to KYC/AML.
EU availability: Once effective, passporting details will be reflected here. This page applies to Fiat Republic Netherlands B.V. only.
White papers
Access the latest white papers and the archive below.
MiCA notice: The crypto asset white papers have not been approved by any competent authority. The Issuer is solely responsible for its content. The white papers provided under Title IV of Regulation (EU) 2023/1114 are intended to be fair, transparent, and not misleading. They are not prospectuses under Regulation (EU) 2017/1129 and do not relate to financial instruments.
Transparency and regulatory information
This section mirrors standard industry disclosures but reflects Fiat Republic Netherlands B.V. and our documentation only.
Issuance and authorisation
ENEUR and ENGBP are issued by Fiat Republic Netherlands B.V.
Authorisation: Licensed Electronic Money Institution (EMI), reference R190553. Authorisation authority: De Nederlandsche Bank (DNB).
MiCA-Approved by the Autoriteit Financiale Marketen (AFM) for custody, administration and transfer servicesCompany identifiers:KvK 84625791, LEI 724500GVWT7QULV8CR59.
White papers: Published under MiCA Title IV (e money tokens); publication is not subject to prior approval by a competent authority. The Issuer is solely responsible for their content.
Eligibility and Passporting. Services restricted to European Union countries and available to Customers signed with Fiat Republic Netherlands B.V. EU-wide accessibility via passporting rights.
Networks supported
ENEUR and ENGBP operate on Algorand as Algorand Standard Assets (ASA).
There is no multi-chain distribution beyond Algorand at this time.
Backing and safeguarding
Funds received for EMT issuance are held in segregated accounts by Stichting Custodian Fiat Republic (Fiat Republic Foundation I) for the benefit of holders.
Foundation II safeguards EMT private keys and maintains segregated on chain addresses.
EMTs are not deposits, do not earn interest, and are not covered by investor compensation (Directive 97/9/EC) or deposit guarantee schemes (Directive 2014/49/EU).
Data and metrics
EagleNet EMTs operate within a closed ecosystem for authorised Members. As such, public market capitalisation and third-party exchange metrics do not apply.
On chain activity metrics and operational dashboards are available to Members within EagleNet.
Environmental metrics for Algorand are disclosed below and in each white paper.
Minting and redemption access for EMT Holders (Customers): May mint and redeem directly with the Issuer, subject to eligibility and compliance.
End users: Access EMTs via Members; retain the right to redeem with the Issuer at par.
There is no consumer-facing mint portal.
How redemption works
Your right to redeem
Holders may redeem ENEUR and ENGBP at any time and at par value, subject to identity verification and legal requirements.
Before you submit a request
If you obtained EMTs via another Business (for example, a crypto platform) that is a client of Fiat Republic, contacting this Business is often the fastest way to redeem your tokens.
Redemption process
- Complete the Redemption Request Form: forthcoming
- Provide proof of EMT ownership and a destination bank account in your name.
- We complete due diligence checks.
- Once approved, funds are paid at par to your bank account.
Operational details
Processing time: Real-time for redemptions initiated by authorised Customers through EagleNet. Otherwise, once due diligence is complete, it will be processed promptly and, in any case, within five business days.
Fees: No redemption fees.
Amount limits: No specific minimum or maximum.
Payout rails (GBP): Faster Payments, BACS, CHAPS.
Payout rails (EUR): SEPA credit transfer.
Environmental impact of tokens
Fiat Republic Netherlands B.V., as issuer of EMTs, provides information on the principal adverse impacts on the climate and other environment-related adverse implications of the Algorand consensus mechanism used for ENGBP and ENEUR. These disclosures are also included in each token’s white paper.
ENGBP environmental impact
Consensus mechanism: Algorand
Annual energy consumption (estimate for 2023):8 kWh for 1,000,000 transactions annually, including validation and ledger maintenance.
Energy consumption per transaction (estimate for 2023):0.000008 kWh per validated transaction.
Data sources: Quantoz Blockchain Services B.V. and Algorand website.
Reporting scope note: As the Algorand consensus mechanism consumes less than 500,000 kWh per year, only mandatory indicator 1 (energy consumption) is reported. This information covers 01.01.2023 to 31.12.2023, with estimates used as ENGBP had not launched as of December 2024.
ENEUR environmental impact
Consensus mechanism: Algorand
Annual energy consumption (estimate for 2023):8 kWh for 1,000,000 transactions annually, including validation and ledger maintenance.
Energy consumption per transaction (estimate for 2023):0.000008 kWh per validated transaction.
Data sources: Quantoz Blockchain Services B.V. and Algorand website.
Reporting scope note: As above. This information covers 01.01.2023 to 31.12.2023, with estimates used as ENEUR had not launched as of December 2024.
Frequently asked questions
The examples below are adapted from common industry questions, rewritten to reflect Fiat Republic's own documentation and scope. They avoid claims that are not in our white papers.
How are ENEUR and ENGBP backed and redeemable at par?
Funds received for EMT issuance are held in segregated accounts by Stichting Custodian Fiat Republic (Fiat Republic Foundation I) on behalf of holders. Holders can redeem at par value in the referenced currency, subject to verification and legal requirements. There are no redemption fees.
Who can mint and redeem EMTs directly with the Issuer?
Minting and redemption within the EagleNet ecosystem are available to authorised Fiat Republic customers who meet eligibility and compliance requirements. End users access EMTs through those Customers and retain the right to redeem with the Issuer.
On which blockchain do ENEUR and ENGBP operate?
Both tokens operate as Algorand Standard Assets on the Algorand blockchain.
How do minting and burning work for EMTs?
When fiat funds are received for issuance, the Issuer mints the corresponding amount of EMTs. The corresponding EMT amount is burned when a redemption is processed and fiat is paid out. Mint, burn, and transfer events are monitored in real time within the closed ecosystem.
Are ENEUR and ENGBP available to the general public?
No. The tokens operate within a closed ecosystem for authorisedFiat Republic customers. Availability is subject to eligibility and local laws.
Do EMTs earn interest or fall under deposit or investor compensation schemes?
No. EMTs are not deposits and do not earn interest. They are not covered by investor compensation schemes under Directive 97/9/EC or deposit guarantee schemes under Directive 2014/49/EU.
Is there a fee or minimum amount for redemption?
There are no redemption fees and no specific minimum or maximum amounts. Standard compliance checks apply.
For support, email
Postal address
Postbus 93257
2509 AG Den Haag
Visitor address
Monarch Tower
Prinses Beatrixlaan 5
2595 AK Den Haag
Complaints should be submitted to Kifid within 12 months of the final response from Fiat Republic Netherlands B.V.
Important notices and disclaimers
EagleNet EMTs are not deposits and do not earn interest.
Redemption is at par value in the referenced currency and is subject to verification and legal requirements.
Publication of a white paper does not imply regulatory approval.
ENEUR and ENGBP are not covered by investor compensation schemes under Directive 97/9/EC or by deposit guarantee schemes under Directive 2014/49/EU.
Availability is subject to local laws, sanctions, and eligibility requirements.
This page applies to Fiat Republic Netherlands B.V. only.
Issuer and contact
Issuer: Fiat Republic Netherlands B.V.
Registered address: Strawinskylaan 4117, room 05 116, 1077 ZX, Amsterdam
Company number (KvK): 84625791
LEI: 724500GVWT7QULV8CR59
Regulatory status: Licensed Electronic Money Institution, licence reference R190553. Authorisation authority: De Nederlandsche Bank (DNB). Approved by the Autoriteit Financiale Markten (AFM) to provide custody administration and transfer services.
Website: fiatrepublic.com
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