EURC

USDQ

Fabric

Algorand

The Dutch fintech company, Quantoz Payments,&nbsp;<a style="text-decoration:none" href="https://www.prnewswire.com/news-releases/quantoz-payments-issues-euro-and-us-dollar-stablecoins-receives-backing-from-major-crypto-asset-firms-302307631.html">introduced</a> two new stablecoins, USDQ and EURQ, compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCA).&nbsp;
Backed by prominent investors like Tether, Kraken, and Fabric Ventures, these tokens aim to provide secure, regulated digital payment solutions across the European Economic Area (EEA).
<h2 dir="ltr" id="span-span-what-are-usdq-and-eurq-span-span">What Are USDQ and EURQ?</h2>
Quantoz’s stablecoins, USDQ and EURQ, are e-money tokens (EMTs) issued on the Ethereum blockchain. Fully backed by fiat reserves, these tokens ensure security and transparency for users.&nbsp;
&nbsp;
The Dutch Central Bank (DNB) licenses them, reinforcing their credibility as a regulated financial product.
<h3 dir="ltr" id="span-span-strong-key-highlights-include-strong-span-span">Key highlights include:</h3>
<ul>
 <li>Fiat-Backed Stability: Both tokens are backed 1:1 by reserves held in segregated accounts at Tier 1 banks.</li>
 <li>MiCA Compliance: They adhere to stringent EU requirements, including maintaining 100% fiat backing and an additional 2% held by Quantoz.</li>
 <li>Wide Accessibility: The tokens facilitate euro and dollar transfers for digital payments, crypto exchanges, and decentralized applications (dApps).</li>
</ul>
<blockquote>
 “Having well-regulated, transparent, and fully backed stablecoins is critical to enabling faster, cheaper, and more secure settlements in Europe’s largest single market,” said Arnoud Star Busmann, CEO of Quantoz Payments.
</blockquote>
<h3 dir="ltr" id="span-span-strong-advantages-for-users-strong-span-span">Advantages for Users</h3>
<ul>
 <li>Faster Transactions: Blockchain-based stablecoins offer near-instantaneous payments compared to traditional banking systems.</li>
 <li>Cost Efficiency: Reduced fees make these tokens ideal for cross-border payments.</li>
 <li>Regulatory Assurance: MiCA compliance ensures safety and builds trust among consumers and institutions.</li>
</ul>
<h2 dir="ltr" id="span-span-launch-details-and-trading-plans-span-span">Launch Details and Trading Plans</h2>
The USDQ and EURQ tokens will debut on Bitfinex and Kraken for eligible users starting November 21, 2024. These exchanges will serve as initial platforms for trading and liquidity, allowing users to experience the efficiency of these stablecoins in secondary markets and on-chain transactions.
&nbsp;
Quantoz plans to leverage the Ethereum blockchain for these stablecoins, which facilitates faster, transparent, and cost-effective digital payments compared to traditional infrastructure.
<h2 dir="ltr" id="span-span-targeting-growth-in-a-competitive-market-span-span">Targeting Growth in a Competitive Market</h2>
With the MiCA regulations coming into effect this December, stablecoin issuers face increased scrutiny. USDQ and EURQ enter a market currently dominated by Circle’s EURC and Société Générale’s EURCV, which hold 67% of the euro-stablecoin market.
 However, Quantoz aims to carve out its share by emphasizing regulatory compliance, strong fiat backing, and integration with major exchanges and decentralized applications (dApps).
&nbsp;
Quantoz is not just focused on stablecoins. The company is also developing a tokenization business, creating digital versions of traditional financial instruments like bonds, according to CoinDesk.&nbsp;
&nbsp;
Quantoz has already gained recognition for its earlier stablecoin, EURD, built on the Algorand blockchain. EURD powers diverse use cases, from e-commerce and P2P payments to cash flow management for businesses.

Quantoz Unveils MiCA-Compliant Stablecoins USDQ and EURQ Backed by Tether and Kraken

Table of Contents

BSCN

Other articles published on Nov 22, 2024

Sui Sees Record Inflow Following Network Downtime: Can This Save SUI Falling Price?

U.S. House Gets Pro-Crypto Majority, 261 Representatives Elected with Industry Support

Turnover at SEC continues as Lizárraga announces January exit

4 Altcoins Ready to Take Over the Crypto Market in 2024 Holiday Rally

Analysis: Most Altcoins Decline Despite Bitcoin Reaching New All-Time High

Solana to $500 While CYBRO Eyes a 10,000% Rally by 2024!

Join our free newsletter for daily crypto updates!