Tether-backed Quantoz launches MiCA-compliant stablecoins USDQ, EURQ

According to The Block, Dutch blockchain company Quantoz Payments has launched two new stablecoins compliant with the European Union's Crypto Asset Markets Act (MiCA), USDQ and EURQ, pegged to the US dollar and the euro respectively. These stablecoins will be listed on exchanges Bitfinex and Kraken on November 21.
Quantoz is regulated by the Dutch Central Bank, holds an Electronic Money Institution (EMI) license, and says its stablecoin is fully backed by fiat currencies and "highly liquid financial instruments." Currently, Circle's EURC and Socie ́ te ́ Ge ́ ne ́ rale's EURCV already account for 67% of the euro stablecoin market, while Quantoz's EURQ may join the market competition. In addition, Tether has not yet obtained a USDT issuance license under the MiCA, and Coinbase plans to remove all non-compliant stablecoins by the end of the year, which may be one of the reasons why Tether chose to invest in Quantoz.