Quantoz Payments has launched two new stablecoins called EURQ and USDQ to help connect the traditional finance world with blockchain technology under the European Union’s Markets in Crypto-Assets Regulation (MiCAR). These stablecoins aim to meet the needs of liquidity and payments in places like digital asset trading platforms and decentralized finance (DeFi) protocols.
They will be issued on the Ethereum blockchain as ERC-20 tokens for fast and secure transfers. The EURQ and USDQ tokens follow MiCAR’s rules for stability, transparency, and consumer protection, which means that they can be used in regulated EU crypto markets. These stablecoins have undergone independent audits and have the Dutch Central Bank (DNB) overseeing them under an Electronic Money Institution (EMI) license.
The Quantoz Foundation, an independent group, handles the separation between customer funds and company assets, making sure the stablecoins are minted and redeemed properly. These stablecoins can be used for cross-border payments, lower transaction fees, and DeFi activities like lending and liquidity provision.
They can also be used in Web3 and the Internet of Things (IoT) for things like micropayments and automated machine-to-machine transactions. By following MiCAR rules, Quantoz’s stablecoins act as a bridge between traditional finance and the digital asset world in the EU. The EURQ and USDQ tokens are backed 1:1 by Euros or US Dollars, meaning that each token has an equal amount of fiat currency in secure, regulated accounts managed by the Quantoz Foundation.
Independent audits make sure that the tokens in circulation are fully covered by these fiat reserves, ensuring their value stays stable and that they meet EU regulations. People can buy EURQ and USDQ tokens on the Bitfinex exchange by logging in to an account, depositing either cryptocurrency or fiat currency, and then trading for the stablecoin they want.
These tokens give people a stable digital currency option in the ever-changing digital asset world.
