Quantoz Payments, a Dutch fintech business, has teamed with Tether, Kraken, and Fabric Ventures to introduce EURQ and USDQ stablecoins that comply with MiCA rules. These tokens, pegged to the euro and the US dollar, promise to provide secure, rapid, and cost-effective digital payments throughout the EU.
EURQ and USDQ will be available for trade on key platforms like Kraken and Bitfinex beginning November 21. The Dutch Central Bank licenses and fully backs both stablecoins, providing a transparent and controlled option for digital transactions. Compliance with the MiCA framework ensures stability and trust for both consumers and businesses.
The release of these tokens comes as the EU prepares to implement harsher cryptocurrency rules under MiCA. To survive in the market, stablecoin issuers must follow stringent compliance standards that reach a potential audience of over 450 million customers.
Quantoz Payments, with its electronic money institution license, is well-equipped to manage this regulatory environment. The firm maintains an additional 2% reserve for added financial security, in accordance with MiCA standards. These measures aim to boost trust in the use of stablecoins for regular transactions and institutional purposes.
EURQ and USDQ provide a more streamlined approach to financial operations by incorporating advanced blockchain technology, particularly for firms that manage treasury responsibilities. The tokens also aim to bridge gaps in traditional banking, allowing for faster and more efficient settlements of payments, remittances, and other financial transactions.
The launch underscores an increasing trend of using stablecoins to update financial institutions, with companies such as Quantoz setting the standard for compliance and innovation. This action not only enhances the EU’s cryptocurrency ecosystem but also establishes a global standard for regulated digital finance.
