Tether-Backed Quantoz Launches MiCA-Compliant USDQ and EURQ Stablecoins

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As a seasoned researcher with over two decades of experience in the financial industry, I have witnessed the evolution of the digital asset landscape from its infancy to a burgeoning force that has captured the attention of global regulators and investors alike. The recent announcement by Quantoz Payments, a Dutch fintech company, of their upcoming stablecoins USDQ and EURQ, is an intriguing development that I find myself keenly interested in.

Beginning in the coming month, as the Markets in Crypto-Assets (MiCA) regulation comes into force, Quantoz Payments, a fintech firm based in the Netherlands, has introduced two new stablecoins, USDQ and EURQ, before MiCA’s enforcement on December 30, 2024. These tokens, tied to the US dollar and euro respectively, aim to transform the European crypto market with their innovative approach.

Quantoz Aims to Challenge Euro-Stablecoin Dominance

Quantoz’s stablecoins, USDQ and EURQ, are constructed on the Ethereum blockchain and adhere strictly to MiCA regulations. As a licensed Electronic Money Institution under the Dutch Central Bank, Quantoz ensures that these tokens pass MiCA’s stringent criteria, working towards creating a more secure environment within Europe’s burgeoning crypto market.

The introduction of MiCA (Markets in Crypto Assets) regulation will streamline the diverse and separate crypto regulations within the European Union, where each member state had its own set of rules. With MiCA, the governance of crypto assets will be under a unified system that encompasses issuance, trading, and custody. The aim of these regulations is to deter market manipulation and safeguard investors across Europe.

The timing for Quantoz is critical, as MiCA regulations are set to restrict certain types of stablecoins by the end of the year. This leaves USDQ and EURQ in a strategic position within the European stablecoin market. At present, Circle’s EURC and Société Générale’s EURCV hold a commanding 67% share in the euro-backed stablecoin industry. However, Quantoz aims to contest this leadership and carve out a substantial portion of the market for itself.

USDQ and EURQ to Launch on Major Exchanges

Quantoz Payments is gearing up to be a significant figure in the crypto world following MiCA regulations. Starting November 21, 2024, their stablecoins, USDQ and EURQ, will be tradeable on prominent platforms such as Bitfinex and Kraken. In adherence with MiCA guidelines, Quantoz will retain a 2% reserve of the token in its own reserves, which is meant to maintain liquidity and stability within the digital asset market.

Quantoz CEO, Arnoud Star Busmann stated that the backing from leading digital asset companies during this funding round will empower us to deliver a swift response to the needs of digital asset markets and also make it possible to utilize blockchain technology for more conventional financial applications.

This alliance signifies a pivotal advancement in Quantoz’s goal to connect the conventional financial system with the burgeoning decentralized finance realm. The support from Tether, Kraken, and Fabric Ventures lends substantial credibility to Quantoz’s ambition to establish USDQ and EURQ as leading figures in the European cryptocurrency market.

Tether’s CEO, Paolo Ardoino, stated that the company’s backing of Quantoz underscores Tether’s dedication to promoting innovative, yet regulated, digital asset solutions,” is a paraphrased version that maintains the original meaning in a natural and easily understandable way.

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2024-11-18 16:14