Highlights:
- Quantoz has launched EURQ and USDQ stablecoins under MiCA rules to offer cheaper digital payments.
- SG-FORGE has expanded EURCV stablecoin to XRP Ledger to leverage its scalability and cross-border financial solutions.
- Stablecoins continue to grow as EU rules drive compliance hence creating opportunities for regulated issuers.
Quantoz has launched two stablecoins, EURQ and USDQ, under the European Union’s MiCA regulations. These tokens are pegged to the euro and U.S. dollar. The tokens are issued on the Ethereum blockchain by the Netherlands-based firm. These stablecoins offer faster and cheaper transactions than normal payment systems. The Dutch Central Bank oversees the regulation of Quantoz’s operations.
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【Tether-backed Quantoz launches MiCA-compliant stablecoins USDQ, EURQ】
Shortly before the European Union's Markets in Crypto-Assets regulation, known as MiCA, takes full effect in December, a Netherlands-based firm has launched two MiCA-compliant stablecoins.
Quantoz Payments… pic.twitter.com/ngiJqmrEkS
— MetaEra (@MetaEraHK) November 18, 2024
The company has partnered with major crypto exchanges Bitfinex and Kraken. Beginning on November 21, EURQ and USDQ will be listed on these platforms for trading. These tokens can be accessed by eligible users for easy transfers. The tokens are backed with fiat and highly liquid financial instruments such as government bonds.
Arnoud Star Busmann, CEO of Quantoz, stressed the importance of MiCA regulations. According to him, rules bring trust to digital asset markets. He noted that stablecoins, especially when they are transparent and regulated, are necessary for modern digital payments. The tokens could close the gap between traditional finance and decentralized systems.
Quantoz Eyes EU with Fiat Stablecoins
Stablecoin issuers are subject to strict criteria required by the European Union’s MiCA regulations. Quantoz is among the first companies to comply with these new rules. The firm has received investment from Kraken, Tether, and Fabric Ventures. The amount of funding has not been disclosed but the backing shows strong industry confidence.
Quantoz has been praised by investors for its efforts in compliance. They noted the firm’s robust regulatory approach and its technical expertise. Quantoz’s innovative ways in the digital assets space were also highlighted by Tether.
SG-FORGE Brings EURCV to XRP Ledger
In related news, Société Générale’s digital asset subsidiary SG-FORGE has also begun broadening its euro-linked stablecoin, EURCV. The token will soon be listed on the XRP Ledger. SG-FORGE had earlier launched EURCV on Ethereum and Solana. This aligns with its multi-chain approach that aims to increase the adoption of cryptocurrency.
XRP surged over 15% after Societe Generale announced plans to deploy its EURCV stablecoin on the XRP Ledger, highlighting XRP's utility in cross-border payments. This move is part of SG-FORGE's strategy to expand digital assets while adhering to EU's MiCA regulations. #XRP #EURCV…
— Vanquish Adept (@VanquishAdept) November 17, 2024
The XRP Ledger provides fast settlement and cheap transfer fees. According to SG-FORGE, these features will appeal to institutional users. These capabilities are consistent with EURCV’s vision to enhance efficiency in the settlement of financial transactions.
Despite regulatory backing, EURCV has faced adoption challenges. Its issuance remains relatively lower than the other stablecoins. Nevertheless, SG-FORGE continues to focus on building the presence of its new ecosystem.
Stablecoin Market Grows with EU Rules
The digital asset market requires stablecoins. The liquidity of these tokens is used for trading as well as for everyday payments. Globally, the size of the stablecoin market is now over $180 billion. The market is also expected to be shaped further by the EU’s MiCA regulations.
Issuers have to follow strict rules under MiCA or be excluded from the EU market. This has created opportunities for compliant players like Quantoz and SG-FORGE. With regulatory clarity, these firms are capitalizing on it to expand their offer.
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