Quantoz, supported by Tether, launches stablecoins USDQ and EURQ that comply with MiCA standards

According to The Block, Dutch blockchain company Quantoz Payments has launched two new stablecoins, USDQ and EURQ, which comply with the EU's Markets in Crypto-Assets (MiCA) regulations. These are pegged to the US dollar and Euro respectively. These stablecoins will be listed on Bitfinex and Kraken exchanges on November 21st. Quantoz is regulated by the Dutch Central Bank, holds an Electronic Money Institution (EMI) license, and states that its stablecoins are fully backed by fiat currency and "high liquidity financial instruments". Currently, Circle's EURC and Societe Generale's EURCV occupy 67% of the Euro stablecoin market share while Quantoz's EURQ may join this competition. In addition, Tether has not yet obtained permission under MiCA to issue USDTs while Coinbase plans to delist all non-compliant stablecoins by year-end; this could be one reason why Tether chose to invest in Quantoz.