New Stablecoins Aim for Regulatory Clarity
Netherlands-based blockchain firm Quantoz Payments has launched two MiCA-compliant stablecoins, USDQ and EURQ, ahead of the European Union’s Markets in Crypto-Assets (MiCA) regulations taking effect in December. Pegged to the U.S. dollar and the euro, these stablecoins are fully backed by fiat and liquid financial instruments, offering a regulated solution for European investors seeking compliance and stability in the digital asset market.Tether and Key Players Back the Initiative
Tether, the largest stablecoin issuer, has invested in Quantoz alongside Kraken and Fabric Ventures. This support comes as Tether’s own USDT faces uncertainty under MiCA. USDQ and EURQ are set to be listed on Bitfinex and Kraken starting November 21, providing immediate access to trading and boosting market competition in Europe. Quantoz CEO Arnoud Star Busmann noted the investment would enhance their ability to offer timely blockchain-based solutions for both digital asset markets and traditional financial use cases.Competing in a Growing Market
The launch positions Quantoz as a challenger to dominant euro-backed stablecoins like Circle’s EURC, which currently holds a significant share of the market. With MiCA regulations restricting non-compliant stablecoins, USDQ and EURQ stand to gain traction as Europe seeks clarity and security in its stablecoin offerings. By holding 2% of its token supply on its balance sheet in compliance with MiCA rules, Quantoz demonstrates its commitment to fostering trust and reliability in the digital asset ecosystem. This launch reflects the increasing importance of compliance as the European crypto market evolves under MiCA regulations, potentially reshaping the stablecoin landscape and giving compliant issuers like Quantoz a competitive edge.
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