Dutch fintech company Quantoz Payments introduced two new stablecoins, USDQ and EURQ, compliant with the EU's Markets in Crypto-Assets Regulation (MiCA). These tokens are designed to provide secure, regulated digital payment solutions across the European Economic Area.
What Are USDQ and EURQ?
Quantoz's stablecoins, USDQ and EURQ, are e-money tokens issued on the Ethereum blockchain. Fully backed by fiat reserves, these tokens ensure security and transparency for users. The Dutch Central Bank (DNB) licenses them, reinforcing their credibility as a regulated financial product. Key highlights include:
- **Fiat-Backed Stability**: Both tokens are backed 1:1 by reserves held in segregated accounts at Tier 1 banks. - **MiCA Compliance**: They adhere to stringent EU requirements, including maintaining 100% fiat backing and an additional 2% held by Quantoz. - **Wide Accessibility**: The tokens facilitate euro and dollar transfers for digital payments, crypto exchanges, and decentralized applications (dApps).
Advantages for Users
Blockchain-based stablecoins offer near-instantaneous payments compared to traditional banking systems. Reduced fees make these tokens ideal for cross-border payments. MiCA compliance ensures safety and builds trust among consumers and institutions.
Launch Details and Trading Plans
The USDQ and EURQ tokens will debut on Bitfinex and Kraken for eligible users starting November 21, 2024. These exchanges will serve as initial platforms for trading and liquidity, allowing users to experience the efficiency of these stablecoins in secondary markets and on-chain transactions. Quantoz plans to leverage the Ethereum blockchain for these stablecoins, which facilitates faster, transparent, and cost-effective digital payments compared to traditional infrastructure.
With the introduction of MiCA-compliant stablecoins, Quantoz aims to grow its market presence despite the competition. The company emphasizes regulatory compliance, strong fiat backing, and integration with major exchanges and decentralized applications.
