Major cryptocurrency exchanges fund the launch of two stablecoins

The Dutch company Quantoz has launched two stablecoins in accordance with MiCA regulations after receiving investments from cryptocurrency exchanges Fabric Ventures, Kraken, and Tether. This was announced on the company's official account.

The EURQ and USDQ tokens on the Ethereum blockchain are pegged to the euro and the US dollar. The assets will facilitate transfers and payments on secondary markets, as well as transactions between cryptocurrency exchanges. The issuer of the securities is a subsidiary of Quantoz Payments, which is licensed by the Dutch Central Bank as an electronic money institution. In accordance with European Union regulations, the stablecoins are backed by fiat reserves and liquid financial instruments like government bonds.

All funds are managed by an independent fund, and they are held in segregated accounts at Tier 1 banks.

Exchanges Kraken and Bitfinex (affiliated with Tether) will add EURQ and USDQ to their trading platforms starting November 21.

“The support from several leading companies in the digital asset space during this investment round will allow us to provide a timely solution for the crypto markets and unlock the advantages of blockchain-based money for more traditional use cases,” said Star Bussmann, CEO of Quantoz Payments.