MiCA-Compliant Stablecoins Launched by Quantoz Payments

Shortly before the European Union's Markets in Crypto-Assets (MiCA) regulation takes effect in December, Netherlands-based Quantoz Payments has introduced two new stablecoins: USDQ and EURQ. These tokens are pegged to the dollar and euro, respectively, and are issued on the Ethereum blockchain. Quantoz, regulated by the Dutch Central Bank as an Electronic Money Institution, states that these stablecoins are fully backed by fiat and highly liquid financial instruments.

The launch occurs at a pivotal moment for European crypto investors, as MiCA regulations will soon restrict certain stablecoins. Currently, Circle’s EURC and Société Générale’s EURCV hold 67% of the euro-stablecoin market. With competitors like EURQ emerging, the market landscape may shift, especially as EURC’s supply hits an all-time high.

Tether, the leading stablecoin issuer, has not yet received a MiCA license for USDT, leading to speculation about its future in Europe. Coinbase remains silent on the potential delisting of non-compliant tokens by year-end. Tether's investment in Quantoz, alongside Kraken and Fabric Ventures, may indicate a strategic move amid regulatory uncertainties.

Tether CEO Paolo Ardoino remarked that their investment reflects a commitment to innovative, regulated solutions in digital assets. USDQ and EURQ are set to be available for trading on Bitfinex and Kraken starting Thursday, Nov. 21. Quantoz will retain 2% of the token on its balance sheet to comply with MiCA regulations.

Quantoz CEO Arnoud Star Busmann expressed optimism that support from top digital asset firms will help them address market demands and expand the use of blockchain-based money in traditional sectors.