A Dutch-based company, Quantoz Payments, is launching two stablecoins, USDQ and EURQ, which are compatible with the European Union’s crypto market regulation, MiCA. The stablecoins are linked to the US dollar and the euro and are fully backed by fiat money and highly liquid financial instruments. This comes at a crucial time for European crypto-investors, as other stablecoin competitors aim to carve out and increase their own market share in the upcoming regulated market.
Tether, the world’s largest stablecoin issuer, has yet to be licensed under MiCA to its stablecoin, USDT, and it has invested an undisclosed amount in Quantoz Payments to remain a participant in the EU stablecoin market.