Darius Baruo
Nov 21, 2024 14:27
Quantoz Payments introduces EURQ and USDQ, MiCA-compliant stablecoins, bridging traditional finance and blockchain under EU regulations, enhancing liquidity in digital markets.
Quantoz Payments has unveiled two new stablecoins, EURQ and USDQ, which are compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCAR). These Electronic Money Tokens (EMTs) aim to integrate traditional financial systems with blockchain technology, adhering to stringent EU regulatory standards, according to blog.bitfinex.com.
Stablecoins Designed for European Markets
The EURQ and USDQ tokens are specifically designed to meet liquidity and payment requirements in secondary markets, including digital asset trading platforms and decentralized finance (DeFi) protocols. EURQ is backed by the Euro, and USDQ by the US Dollar, providing stable, low-cost solutions for cross-border transactions and trading. These tokens are issued on the Ethereum blockchain as ERC-20 tokens, ensuring rapid and secure transfers while complying with MiCA’s standards for stability, transparency, and consumer protection.
Compliance and Security
A significant aspect of Quantoz’s stablecoins is their compliance with MiCA, enabling their use within regulated EU crypto markets. Compliance measures include independent audits and oversight by the Dutch Central Bank (DNB) under an Electronic Money Institution (EMI) license. The Quantoz Foundation, an independent entity, manages the segregation of customer funds from corporate assets, overseeing the minting and redemption of stablecoins. These measures enhance trust and security, supporting the stablecoins’ adoption in both institutional and retail markets.
Utility and Applications
These stablecoins are designed to facilitate cross-border payments, reduce transaction costs, and enhance DeFi activities such as lending and liquidity provision. Their programmability supports various applications in Web3 and the Internet of Things (IoT), enabling compliant micropayments and automated machine-to-machine transactions. By adhering to MiCA regulations, Quantoz’s stablecoins act as a bridge between traditional finance and the digital asset ecosystem in the EU.
Tokenomics of EURQ and USDQ
The tokenomics of EURQ and USDQ ensure their stability by being fully backed 1:1 by reserves of Euros or US Dollars. For every token issued, an equivalent fiat amount is held in secure, regulated accounts managed by the Quantoz Foundation. Regular audits by independent entities verify that the tokens in circulation are fully collateralized by these fiat reserves, ensuring value stability and adherence to EU regulatory standards.
Acquiring EURQ and USDQ
Interested users can purchase EURQ and USDQ on the Bitfinex exchange. The process involves logging into a Bitfinex account, depositing either cryptocurrency or fiat, and then trading for the desired stablecoin. These tokens offer users a stable digital currency option within the evolving digital asset landscape.
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