Darius Barrow
21 November 2024 at 14:27
Quantoz Payments offers MiCA-compliant EURQ and USDQ stablecoins, bridging the gap between traditional finance and blockchain under EU regulations, enhancing liquidity in digital markets.
Quantoz Payments has unveiled two new stablecoins, EURQ and USDQ, that are compliant with the EU Markets in Crypto Assets Regulation (MiCAR). These electronic money tokens (EMTs) aim to integrate traditional financial systems with blockchain technology, while adhering to strict EU regulatory standards, according to blog.bitfinex.com.
Stablecoins designed for European markets
The EURQ and USDQ tokens are specifically designed to meet liquidity and payment requirements in secondary markets, including digital asset trading platforms and decentralized finance (DeFi) protocols. EURQ is backed by Euros, and USDQ by US Dollars, providing stable and low-cost solutions for cross-border transactions and trading. These tokens are issued on the Ethereum blockchain as ERC-20 tokens, ensuring fast and secure transfers while complying with MiCA standards for stability, transparency and consumer protection.
Compliance and security
An important aspect of Quantoz's stablecoins is their compliance with MiCA, allowing their use in regulated cryptocurrency markets in the European Union. Compliance measures include independent audits and oversight by the Dutch Central Bank (DNB) under an electronic money institution (EMI) licence. Quantoz, an independent entity, manages the separation of client funds from company assets, and oversees the minting and redemption of stablecoins. These measures enhance trust and security, and support the adoption of stablecoins in both institutional and retail markets.
Utility and applications
These stablecoins are designed to facilitate cross-border payments, reduce transaction costs, and promote DeFi activities such as lending and providing liquidity. Its programmability supports many applications in Web3 and the Internet of Things (IoT), enabling compatible micropayments and automated machine-to-machine transactions. By adhering to MiCA regulations, Quantoz's stablecoins act as a bridge between traditional finance and the EU digital asset ecosystem.
EURQ and USDQ tokens
EURQ and USDQ tokens ensure their stability by being fully backed 1:1 by Euro or USD reserves. For every token issued, an equivalent amount of fiat currency is held in secure, regulated accounts managed by the Quantoz Foundation. Regular audits conducted by independent entities verify that the tokens in circulation are fully collateralized by these fiat reserves, ensuring stability of value and adherence to EU regulatory standards.
Get EURQ and USDQ
Interested users can buy EURQ and USDQ on the Bitfinex exchange. The process involves logging into your Bitfinex account, depositing cryptocurrency or fiat currency, and then trading the desired stablecoin. These tokens provide users with a stable option for digital currency within the evolving digital asset landscape.
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