Ethereum

USDQ

Dutch fintech company Quantoz is making its move into the stablecoin market in Europe, with plans to issue two new fully-backed stablecoins.
These coins, EURQ and USDQ, will be pegged to the euro and the US dollar respectively and will be backed by high-liquidity government assets and securities. Both stablecoins will be issued on the Ethereum blockchain, ensuring full compliance with all regulatory requirements.
Quantoz has secured an official license from the Dutch Central Bank, granting it the authority to issue stablecoins within the European Union. This license, known as the Electronic Money Institution (EMI) license, is a crucial prerequisite for any company aiming to launch stablecoins in the region.
The company has attracted investment from several leading firms in the digital currency space, including Fabrik Ventures, Kraken, and Tether, which further underscores the confidence in Quantoz and its ambitious project. Although the exact amount of these investments has not been disclosed, the backing highlights the trust in Quantoz’s vision.
EURQ and USDQ will be available for trading on the Bitfinex and Kraken platforms starting Thursday, marking a significant step towards expanding the use of stablecoins in digital transactions. This development aligns with the rapid growth of the stablecoin market, which has surpassed $180 billion in market value, becoming a key component of the digital financial infrastructure.
Stablecoins are known for their speed and efficiency in transactions, making them an attractive option for payments and financial transfers compared to traditional financial systems.
The launch of Quantoz’s stablecoin comes at a critical time as European digital currency firms brace for new regulatory challenges. With the Markets in Crypto-Assets (MiCA) regulations set to take effect by the end of the year, all companies operating in the space—especially stablecoin issuers—will need to comply with these strict guidelines.
MiCA is expected to result in many non-compliant digital currencies being withdrawn from the European market, with exchanges listing only licensed coins.
In this environment, Quantoz stands out as one of the few companies that has proactively prepared for this regulatory shift by securing the necessary license. In contrast, other players in the industry, such as Tether, continue to face difficulties in meeting the new requirements, while Circle, another major stablecoin issuer, has announced its readiness to operate under the upcoming regulatory framework.
The post <a href="https://www.unlock-bc.com/132752/kraken-and-tether-launch-mica-compliant-stablecoins/" rel="noopener noreferrer nofollow">Kraken and Tether Launch MiCA-Compliant Stablecoins</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.

Kraken and Tether Launch MiCA-Compliant Stablecoins

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