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Cryptocurrency News Articles
Kraken, Tether-Backed Dutch Firm Rolls Out MiCA-Compliant Euro, U.S. Dollar Stablecoins
Nov 18, 2024 at 03:30 pm
The issuance comes at a time when the European stablecoin market is poised for a shake-up as regulations for issuers will enter into full force by the end of this year.
Netherlands-based fintech firm Quantoz, backed by crypto exchange Kraken and stablecoin giant Tether, has rolled out MiCA-compliant euro (EURQ) and U.S. dollar (USDQ) stablecoins.
The tokens, pegged 1:1 to their respective fiat currencies, will be listed on Bitfinex and Kraken, making them available to eligible users starting Thursday.
Quantoz, boasting the Electronic Money Institution (EMI) license from the Dutch Central Bank, has secured investments from Fabric Ventures, Kraken and Tether, although the size of the fundraising round remains undisclosed.
EURQ and USDQ will pave the way for further stablecoin launches by Quantoz in the future.
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