Blockchain company Quantoz launches new stablecoins USDQ and EURQ compliant with MiCA, with Tether and Kraken increasing their investments.

As the EU is set to fully implement the Markets in Crypto-Assets (MiCA) regulation in December, Dutch blockchain company Quantoz Payments is ahead in launching two stablecoins, USDQ and EURQ, compliant with MiCA and pegged to the US dollar and euro respectively. These stablecoins will be listed on Bitfinex and Kraken exchanges on 11/21. Source

New Players in Stablecoins Market Targeting Market Demand Under MiCA

Quantoz has introduced USDQ and EURQ stablecoins issued on the Ethereum blockchain, promising 100% backing with fiat currencies and high liquidity financial instruments such as government bonds. Quantoz also holds a digital currency institution license issued by the Dutch central bank, ensuring strict regulatory compliance. According to Quantoz, the company will adhere to MiCA regulations by allocating 2% of the stablecoin reserves to the balance sheet, demonstrating transparency and compliance in its operations. USDQ and EURQ stablecoins will be listed on Bitfinex and Kraken exchanges on 11/21.

With MiCA set to be implemented by the end of the year, restricting unlicensed stablecoins from entering the European market, the demand for compliant stablecoins is expected to increase significantly. Currently, Circle's EURC and Société Générale's EURCV hold a 67% share of the Euro stablecoin market, with the supply of EURC recently reaching a historic high. It remains to be seen if Quantoz's EURQ can carve out a share in this rapidly growing market.

Note: Société Générale is a major French bank, part of the "Big Three" alongside BNP Paribas and Crédit Agricole.

Tether and Industry Giants Increase Investments to Drive Compliance

Stablecoin issuer Tether, US exchange Kraken, and Web3 venture capital firm Fabric Ventures have all participated in Quantoz's investment plan, although the investment amount was not disclosed, reflecting the industry's emphasis on compliant stablecoins.

Tether's CEO, Paolo Ardoino, stated that Tether remains committed to promoting innovation and compliant solutions in the digital asset space. However, Tether's USDT has yet to receive MiCA approval, and this investment may be part of Tether's strategic positioning in the compliant European market.

Year-End Full Implementation of MiCA Drives Stablecoin Development through Regulatory Compliance

As the EU's MiCA is fully implemented by year-end, the stablecoin market enters a new era of compliance, attracting attention from both traditional financial and crypto industry players. It is believed that more stablecoins will be introduced under MiCA's regulatory oversight. The US, aiming to lead the crypto industry, is currently hindered by regulatory issues, with hopes for a new direction under the upcoming Trump administration.

The MiCA regulatory framework establishes a regulatory foundation for Europe, posing a threat to stablecoin regulation in the US.