New stablecoins EURQ and USDQ have been launched in Europe, supported by major players like Tether and Kraken. This launch follows MiCA regulatory support, drawing interest from both businesses and individual users.
Launch of New Stablecoins
November 18 marked a significant date for digital payments in the Old Continent with the launch of MiCA-compliant stablecoins: EURQ and USDQ. These tokens are backed by fiat currency reserves and registered as e-money with the Central Bank of the Netherlands. Paolo Ardoino of Tether Investments noted that the company invested in Quantoz, issuer of these coins, using Tether's Hadron platform.
Opportunities and Limits of MiCA
While MiCA provides a solid foundation, it has not gained unanimous support among crypto ecosystem participants. Paolo Ardoino raised concerns about the requirement to place 60% of the issuers' reserves in European banks, which could heighten systemic risks.
Market Reaction to New Coins
EURQ and USDQ tokens will be available on Kraken and Bitfinex starting November 21, providing regulated and accessible use throughout Europe. Supported by major players like Tether and Fabric Ventures, these stablecoins promise fast and transparent transactions with a 1:1 fiat coverage and an additional 2% reserve.
The launch of EURQ and USDQ represents a significant step forward for the crypto industry in Europe. However, to fully understand MiCA's potential impact, continuous monitoring of developments and regulatory adaptation at the local level is necessary.
