The Dutch fintech company, Quantoz Payments, introduced two new stablecoins, USDQ and EURQ, compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCA).
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.
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 MiCA regulations coming into effect in December, stablecoin issuers face increased scrutiny. USDQ and EURQ enter the market aiming to carve out their share by emphasizing regulatory compliance, strong fiat backing, and integration with major exchanges and decentralized applications.
