Netherlands-based Quantoz Stablecoins has launched EURQ, USDQ.

Netherlands-based Quantoz Payments has introduced two Ethereum-based stablecoins, EURQ and USDQ, as it seeks to carve out a niche in the competitive stablecoin market by aligning with improved European regulatory standards.

The new stablecoins will be listed on the main cryptocurrency exchanges Bitfinex and Kraken, both of which are investors in Quantoz alongside the venture capital company Fabric Ventures.

By enhancing partnerships with industry players and emphasizing regulatory alignment, Quantoz is trying to target opportunities in corporate payments, consumer ecosystems and cross-border financial infrastructure.

Stablecoin issuer Tether has backed the company and provided access to Hadron's asset token infrastructure, Quantoz said. press release on Monday.

The launch of Qantas will come in October 2023 Release of EURDA controllable and programmable digital euro issued on the Algorand blockchain.

URD targets the corporate treasury management and consumer payments ecosystem with an emphasis on programmable and institutional finance operations.

EURQ, on the other hand, is designed for broad market adoption, crypto exchanges, cross-border payments and secondary market applications to enable fast and cost-effective transactions, he said.

The company also said the EURQ and USDQ are fully backed one-to-one by fiat stocks and “highly liquid financial instruments” such as government bonds.

Those assets are managed by an independent foundation controlled by De Nederlandsche Bank, the central bank of the Netherlands, and distributed among tier-1 banks.

CEO Arnaud Star Busman emphasized the company's commitment to regulatory compliance.

“We got our license from the Dutch central bank a year ago,” he said. DecryptThis licensing process began before the implementation of the EU Markets in Crypto-Assets (MiCA) framework.

MCAIt sets strict requirements for stablecoin issuers, mandates full fiat reserve support, prudential safeguards and certain reserves held on the ledger to address systemic risks.

Those regulations have created compliance challenges for providers including Coinbase. Deletion of a stable coin last month. Recognizing that point, Quantoz said it aims to explore the EU's tightening regulatory landscape.

Edited by Sebastian Sinclair