Ethereum

USDQ

Fabric

Amidst the rising enthusiasm for stablecoins, Netherlands-based fintech firm Quantoz is setting its sights on capturing a share of the European market. With ambitions to bolster its presence, the company plans to issue euro-pegged (EURQ) and U.S. dollar-pegged (USDQ) stablecoins on the <a href="https://yellow.com/asset/eth">Ethereum</a> blockchain, ensuring they are fully backed by fiat reserves and highly liquid financial instruments like government bonds. Announced on Monday, this move highlights Quantoz's readiness to capitalize on the burgeoning demand for digital assets. 
In securing an Electronic Money Institution (EMI) license from the Dutch Central Bank, a critical requirement for operating within the EU, Quantoz is <a href="https://www.coindesk.com/business/2024/11/18/kraken-tether-backed-dutch-firm-rolls-out-mica-compliant-euro-us-dollar-stablecoins/">positioning</a> itself strategically. 
Backed by investments from significant industry players including venture capital firm Fabric Ventures, crypto exchange Kraken, and stablecoin leader Tether, the firm underscores its strong foothold, although details of the fundraising remain undisclosed. Starting Thursday, EURQ and USDQ will debut on exchanges Bitfinex and Kraken, available for trading to approved users. 
Stablecoins, pegged to fiat currencies, have emerged as a vital $180 billion component in the cryptocurrency market. They provide necessary liquidity for crypto trading and are increasingly favored for daily payments and remittances, leveraging faster, cheaper blockchain settlements over traditional banking systems. Quantoz's initiative coincides with impending regulatory changes across the EU. The upcoming MiCA regulations demand compliance from stablecoin issuers or force potential market withdrawals, impacting 450 million consumers. While Circle, the issuer behind the $36 billion USDC, has met these requirements, Tether remains vocally critical and unlicensed. 
"We identify a significant gap within Europe's stablecoin market and aim to seize this opportunity," stated Arnoud Star Busmann, CEO of Quantoz Payments, in a CoinDesk interview. "Our technological and regulatory prowess, supported by partners like Kraken and Tether, positions us uniquely to bridge this gap." 
Stablecoins promise benefits, particularly in regions where traditional banking lags, such as high-volume, low-value transactions. Busmann elaborated on the advantages of seamlessly moving cash into money market funds without enduring traditional delays. 
Furthermore, Quantoz is tapping into the tokenization trend—digitally creating traditional financial instruments like bonds. Pairing tokenized assets with stablecoins offers efficient treasury management for businesses and institutions, thanks to near-instant settlements contrasting the conventional one- or two-day delays. 
"We are crafting an ecosystem to facilitate diverse applications, spanning from routine payments to intricate financial transactions," Busmann remarked.

Kraken Pioneers MiCA-Ready Euro, USD Stablecoins

Yellow News

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