Quantoz Payments Secures Industry Backing for Stablecoin Launch

Quantoz Payments, a fintech company headquartered in the Netherlands, is set to launch two regulated stablecoins, EURQ and USDQ, with backing from prominent industry players Tether, Kraken, and Fabric Ventures. The tokens, which will be pegged to the euro and U.S. dollar respectively, are designed to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), a framework aimed at standardizing digital asset oversight across the bloc.

Scheduled for release on November 18, these electronic money tokens (EMTs) are licensed by the Dutch Central Bank, marking a significant milestone in the evolution of stablecoin infrastructure within Europe. Unlike traditional cryptocurrencies, EMTs offer the added assurance of being fully backed by reserves held in secured accounts. These accounts are audited and managed under strict regulatory oversight, ensuring a level of transparency that aligns with MiCA’s rigorous standards.

CEO Nick Haasnoot of Quantoz Payments emphasized the transformative potential of this launch, noting that the tokens aim to merge the efficiencies of blockchain technology with robust financial safeguards. The company, which operates as a licensed electronic money institution, has structured the EMTs to enable seamless integration into a variety of payment systems, including those powering machine-to-machine transactions and IoT networks. This design aligns with MiCA’s objectives to foster innovation while mitigating risks within the rapidly expanding crypto ecosystem.

Both tokens are tailored to cater to businesses and individuals within the European Economic Area. This geographical focus not only aligns with MiCA but also positions the EMTs as a cornerstone for emerging financial applications, from microtransactions to Web3-enabled economies. Industry insiders have lauded Quantoz for its proactive engagement with regulators and its commitment to setting a high compliance standard in the issuance of blockchain-based financial instruments.