UTRECHT, The Netherlands, Nov. 18, 2024 – Quantoz Payments has launched two new stablecoins, USDQ and EURQ, compliant with the European Union's Markets in Crypto-Assets regulation (MiCA), ahead of its full implementation in December. The tokens, pegged to the US dollar and euro respectively, are backed 1-to-1 by fiat reserves and highly liquid financial instruments.
The launch is significant as it occurs just before MiCA regulations take effect, which will restrict certain stablecoins. Currently, Circle's EURC and Société Générale's EURCV dominate the euro-stablecoin market with a combined 67% market share. Quantoz aims to capture market share with its compliant offerings.
Tether, Kraken, and Fabric Ventures have invested in Quantoz, underscoring the importance of regulatory compliance in the evolving digital asset landscape. Tether CEO Paolo Ardoino emphasized the commitment to innovative and regulated solutions, while Quantoz CEO Arnoud Star Busmann highlighted the potential for faster, cheaper, and more secure transactions in the digital economy.
USDQ and EURQ will be available for trading on Bitfinex and Kraken starting November 21, 2024.