Dutch payment technology firm Quantoz Payments has announced the launch of two new stablecoins, EURQ and USDQ, set to go live in Europe on November 21.
According to a November 18 press release, EURQ and USDQ are fully backed on a one-to-one basis by fiat reserves and highly liquid financial instruments like government bonds. The company emphasized that they are designed to provide a low-cost alternative to traditional payment systems.
EURQ is a euro-pegged stablecoin, and USDQ is U.S. dollar-pegged, and both tokens will be issued on the Ethereum blockchain.
Bitfinex and Kraken will be the first cryptocurrency exchanges to list the stablecoins, making them available for eligible users.
Quantoz also stated that the stablecoins are compliant with the European Union’s Markets in Crypto-Assets (MiCA) framework and are fully regulated by the Dutch Central bank, De Nederlandsche Bank.
Arnoud Star Busmann, CEO of Quantoz, commented that the MiCA regulation introduces a “new level of trust” to the digital asset markets, mainly through its prudential requirements for stablecoin issuers.
“As the world of payments becomes more digital, having well-regulated, transparent and fully backed stablecoins is critical to enabling faster, cheaper and more secure settlement within the world’s largest single market,”
Busmann noted.
Quantoz’s initative has gained support from notable investors, including Fabric Ventures, Kraken, and Tether. However, the exact amount of funding remains undisclosed.
Tether CEO Paolo Ardoino highlighted the company’s support for Quantoz, reinforcing its commitment to regulated solutions in digital assets.
“By supporting Quantoz and bringing technology solutions like Hadron by Tether, we reinforce our dedication to expanding reliable, compliant financial tools,”
Ardoino noted.
Notably, Tether recently launched Hadron, a tokenization platform for real-world assets such as stocks and bonds. The platform supports compliance measures, including KYC, AML, and KYT, alongside integration with multiple blockchain technologies and Bitcoin’s Layer 2 solutions like Liquid.
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