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

Dutch fintech firm Quantoz Payments has unveiled two new stablecoins, USDQ and EURQ, designed to meet the European Union's stringent Markets in Crypto-Assets Regulation (MiCA). Backed by industry giants such as Tether, Kraken, and Fabric Ventures, these tokens aim to revolutionize the digital payment landscape across the European Economic Area (EEA) by offering secure, regulated, and efficient payment solutions.

Introducing USDQ and EURQ: Stablecoins with a Purpose

USDQ and EURQ are e-money tokens (EMTs) issued on the Ethereum blockchain, and they are fully backed by fiat reserves to ensure stability and transparency for users. These tokens are designed to bridge the gap between traditional finance and the growing crypto ecosystem, providing a reliable option for digital payments.

Key Features of USDQ and EURQ:

• 1. Fiat-Backed Stability: Both stablecoins are pegged 1:1 to fiat currency reserves held in segregated accounts with Tier 1 banks, ensuring full backing and minimizing risks.

• 2. MiCA Compliance: Adhering to the EU's MiCA regulations, these tokens comply with requirements such as maintaining 100% fiat backing, plus an additional 2% held by Quantoz to provide extra security.

• 3. Licensed by the Dutch Central Bank (DNB): The stablecoins are fully licensed by the DNB, underscoring their credibility and regulatory standing within the European financial system.

• 4. Wide Accessibility: USDQ and EURQ offer seamless dollar and euro transfers for digital payments, crypto exchanges, and decentralized applications (dApps) across Europe and beyond.

CEO’s Vision for a Transparent and Efficient Future

Arnoud Star Busmann, CEO of Quantoz Payments, emphasized the importance of well-regulated, transparent stablecoins in advancing Europe's digital economy:

"Having fully backed, transparent stablecoins is essential to enable faster, cheaper, and more secure settlements in Europe’s single market. USDQ and EURQ are built to meet these needs and will be pivotal in enhancing the efficiency of digital transactions across Europe."

Benefits for Users: Fast, Cost-Effective, and Compliant

• 1. Faster Transactions: By leveraging blockchain technology, USDQ and EURQ provide near-instantaneous payments, eliminating the delays and inefficiencies of traditional banking systems.

• 2. Cost Efficiency: These stablecoins offer lower transaction fees, making them ideal for cross-border payments and international remittances.

• 3. Regulatory Assurance: Compliance with MiCA regulations provides safety and builds trust among users, offering peace of mind that transactions are governed by robust, transparent rules.

Launch Details and Exchange Listings

USDQ and EURQ will debut on Bitfinex and Kraken starting November 21, 2024. Both exchanges, known for their liquidity and large user bases, will serve as the initial trading platforms for these stablecoins, providing a solid foundation for broader adoption. These exchanges will also allow users to engage with the tokens in secondary markets and on-chain transactions.

Leveraging the Ethereum blockchain, Quantoz aims to facilitate faster and more transparent digital payments, offering a more scalable and efficient alternative to traditional financial infrastructure.

Aiming for Growth in a Competitive Market

The stablecoin market is rapidly evolving, especially with the upcoming MiCA regulations set to take effect in December. While competitors like Circle’s EURC and Société Générale’s EURCV currently dominate the euro-stablecoin market, Quantoz is positioning USDQ and EURQ as a reliable, fully-compliant option for users seeking greater security and stability.

By emphasizing regulatory compliance, strong fiat backing, and seamless integration with major exchanges and dApps, Quantoz aims to secure its share of the market and provide an alternative to existing players.

Beyond Stablecoins: Quantoz’s Expanding Vision

Quantoz isn’t just focused on stablecoins. The company is actively developing a tokenization business, which will bring traditional financial assets like bonds to the blockchain. This innovation, along with Quantoz’s earlier stablecoin project, EURD (built on the Algorand blockchain), has already shown promise in powering a range of use cases, including e-commerce, peer-to-peer payments, and cash flow management for businesses.

Conclusion

Quantoz’s launch of USDQ and EURQ offers a promising solution for secure, regulated digital payments in the European market. With backing from major investors, MiCA compliance, and the added credibility of Dutch Central Bank licensing, these stablecoins are poised to redefine the landscape for cross-border payments and crypto adoption in Europe. As the market for regulated digital assets grows, Quantoz’s innovative approach positions it to be a leader in the evolving world of real-world asset (RWA) tokenization.