Dutch fintech company Quantoz Payments is launching two new stablecoins, EURQ and USDQ, designed to provide a reliable and regulated option for digital payments in Europe.
The project has received backing from big names in the crypto world, including Tether, Kraken, and Fabric Ventures.
The stablecoins, which are pegged to the euro and US dollar, aim to make payments faster and cheaper for businesses and individuals.
They are fully compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCA), which governs digital asset operations across the region.
Quantoz’s new stablecoins will be fully backed by fiat currencies and operate on the Ethereum blockchain. This means each token is supported by real money held in reserve, ensuring their value stays stable.
The tokens are licensed as e-money tokens (EMTs) by the Dutch Central Bank, a classification that ensures they meet strict regulatory requirements. Arnoud Star Busmann, CEO of Quantoz Payments, highlighted the importance of this framework:
“The support through this investment round from some of the best businesses in digital assets will enable us to provide a timely solution for digital asset markets as well as unlock the benefits of blockchain-based money for more traditional use cases.”
Launching on 18 November, EURQ and USDQ will initially be available for trading on Kraken and Bitfinex from 21 November. This will give users in Europe an opportunity to trade the tokens and use them for a variety of financial purposes.
Why are stablecoins important?
Stablecoins play a crucial role in the world of cryptocurrency. Unlike other digital tokens, their value is tied to traditional currencies like the euro or the US dollar. This makes them less volatile and more reliable for everyday use.
Stablecoins are widely used to buy and sell cryptocurrencies, acting as a stable bridge between digital and fiat money.
They are also becoming popular for payments and remittances because blockchain transactions are often cheaper and faster than traditional bank transfers.
Busmann explained how stablecoins can transform payments: “Imagine being able to move cash in and out of money market funds without the traditional delays of T+1 or T+2 days.”
Beyond payments, Quantoz is also exploring tokenisation – the process of creating digital versions of traditional financial assets, such as bonds. Tokenised assets combined with stablecoins can simplify complex financial processes, such as managing corporate treasuries.
“We are building an ecosystem that can support a wide range of use cases, from everyday payments to more complex financial transactions”, Busmann added.
The European market and MiCA regulations
The launch of EURQ and USDQ comes at a pivotal time for the European crypto market. In December, the MiCA regulations will impose new restrictions on certain types of stablecoins, particularly asset-referenced tokens (ARTs) and foreign currency EMTs.
Currently, Circle’s EURC and Société Générale’s EURCV dominate the euro-stablecoin market, holding a combined 67% market share.
However, new competitors like EURQ are entering the market, aiming to attract users with secure and compliant options.
Tether, the world’s largest stablecoin issuer, has yet to secure a MiCA licence for its flagship USDT stablecoin ($USDT). This uncertainty may have contributed to Tether’s decision to invest in Quantoz Payments.
Tether CEO, Paolo Ardoino, commented, “Our support for Quantoz highlights Tether’s commitment to fostering innovative and regulated solutions within the digital asset landscape.”
Quantoz plans to hold 2% of the tokens on its balance sheet, a requirement under MiCA regulations.
The firm’s goal is to provide a reliable digital payment solution for businesses and individuals while addressing growing demand for regulated blockchain-based financial tools.
The introduction of EURQ and USDQ underscored the expanding role of stablecoins in both the cryptocurrency market and traditional financial systems.
By offering fast, secure, and regulated transactions, Quantoz aims to bridge the gap between blockchain technology and mainstream finance.
With major players like Tether and Kraken backing the project, EURQ and USDQ are well-positioned to make an impact in Europe.
