cryptonews.net
Netherlands-based fintech company Quantoz will issue regulatory-compliant stablecoins pegged to the euro (EURQ) and US dollar (USDQ) on the Ethereum blockchain. The tokens are fully backed by fiat reserves and highly liquid financial instruments such as government bonds, the company announced on Monday.
The firm has received an Electronic Money Institution (EMI) license from the Dutch Central Bank, a requirement for stablecoin issuers to operate in the EU. Quantoz has received investment from venture capital firm Fabric Ventures, crypto exchange Kraken, and stablecoin giant Tether, though it did not disclose the size of the funding round. EURQ and USDQ will first be listed on Bitfinex and Kraken and will be available for trading for eligible users starting Thursday.
Quantoz is also pursuing tokenization, a hot trend in cryptocurrency to create digital versions of traditional financial instruments like bonds. Tokenized assets, combined with stablecoins, could also offer a more efficient way for businesses and institutions to manage their treasury thanks to their near-instant settlement.
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