#Quantoz , a payment company based in the Netherlands, has just launched two new stablecoins, EURQ and USDQ, based on the blockchain $ETH . These two stablecoins will be listed on major exchanges like Bitfinex and Kraken, which have invested in Quantoz, along with the investment fund Fabric Ventures.
#stablecoin EURQ is designed to expand application in the cryptocurrency market, supporting cross-border payments and secondary trading with the goal of providing quick transactions at low costs. Meanwhile, Quantoz also launched USDQ with similar functions, ensuring that both currencies are fully backed by fiat reserves and highly liquid financial instruments, such as government bonds. This reserve asset will be managed by an independent organization under the supervision of the Dutch Central Bank (De Nederlandsche Bank) and stored at tier 1 banks.
The CEO of Quantoz, Mr. Arnoud Star Busmann, emphasized the company's commitment to complying with strict regulations. Quantoz took years to obtain a license to operate as a cryptocurrency organization from the Dutch Central Bank, before the legal framework #MiCA (EU Regulation on Cryptocurrency Asset Markets) came into effect.
The MiCA legal framework requires stablecoins to be fully backed by fiat reserves, applying financial safety measures and keeping a portion of reserves on the balance sheet to reduce systemic risk. This has posed challenges for many stablecoin issuers, but Quantoz states that they are ready to face and comply with Europe's strict regulations.
With support from #Tether and integration into the Hadron asset tokenization infrastructure, Quantoz expects the new stablecoins to play a crucial role in developing enterprise payments and the consumer digital currency ecosystem in Europe.
