Dutch fintech firm Quantoz Payments has unveiled two new stablecoins, EURQ and USDQ, backed by major players Tether, Kraken, and Fabric Ventures. These stablecoins are pegged to the euro and the U.S. dollar, fully compliant with the EU’s MiCA regulations.
Launch of Stablecoins EURQ and USDQ
Licensed as e-money tokens by the Dutch Central Bank, EURQ and USDQ aim to provide secure and efficient digital payment options across the European Economic Area. The tokens are set to debut on November 18, with further plans detailed in the 'Exchange Access' section.
MiCA Compliance and Market Confidence
The launch of EURQ and USDQ is a milestone for the EU’s regulated digital asset ecosystem. Fabric Ventures’ General Partner Anil Hansjee praised MiCA for streamlining stablecoin issuance. However, Tether CEO Paolo Ardoino expressed concerns about the systemic risks posed by MiCA's reserve requirements.
Norway's Endorsement of MiCA
MiCA’s influence extends beyond the EU, with support from Norway’s central bank, Norges Bank. On November 9, Norges Bank endorsed MiCA while assessing its compatibility with a potential CBDC.
The introduction of EURQ and USDQ marks a significant moment in Europe’s digital finance journey, setting a precedent for regulatory compliance and market innovation in the global stablecoin landscape.
