PANews reported on November 18 that according to The Block, Dutch blockchain company Quantoz Payments has launched two new stablecoins, USDQ and EURQ, which comply with the EU Crypto-Asset Markets Act (MiCA), anchored to the US dollar and the euro respectively. These stablecoins will be listed on exchanges Bitfinex and Kraken on November 21.
Quantoz is regulated by the Dutch Central Bank and holds an Electronic Money Institution (EMI) license. It says its stablecoin is fully backed by fiat currency and "highly liquid financial instruments". Currently, Circle's EURC and Societe Generale's EURCV have occupied 67% of the euro stablecoin market, and Quantoz's EURQ may join the market competition. In addition, Tether has not yet obtained a USDT issuance license under MiCA, and Coinbase plans to remove all non-compliant stablecoins by the end of the year, which may be one of the reasons why Tether chose to invest in Quantoz.
2% of USDQ and EURQ will be retained on its balance sheet in accordance with MiCA regulations. In addition, Tether, Kraken and Fabric Ventures together invested an undisclosed amount in the company (Quantoz).
