Kraken, Tether-Backed Dutch Firm Rolls Out MiCA-Compliant Euro, U.S. Dollar Stablecoins
Quantoz, a Netherlands-based fintech firm, plans to enter the European stablecoin market by issuing EURQ and USDQ, pegged to the euro and U.S. dollar, respectively, on the Ethereum blockchain. These stablecoins are fully backed by fiat reserves and liquid financial instruments. Quantoz has received an Electronic Money Institution license from the Dutch Central Bank, enabling compliance with EU regulations. The tokens will be listed on Bitfinex and Kraken for trading starting Thursday. The stablecoin market has reached a $180 billion valuation, serving as essential liquidity for crypto transactions and everyday payments. The rollout coincides with the upcoming EU regulations (MiCA) requiring compliance from stablecoin issuers. Quantoz aims to fill a market gap in Europe, leveraging partnerships with Kraken and Tether. The firm also focuses on tokenization, creating digital versions of traditional financial instruments, which can enhance treasury management through faster settlements.
