Tether It has announced plans to invest an undisclosed amount in Quantoz, a Dutch fintech company, to help introduce two new stablecoins – EURQ and USDQ, according to a report on November 18. Statement.
Quantoz, which operates under the license of the Dutch Central Bank (DNB), plans to issue these stablecoins using the new Hadron Tether tokenization platform. These tokens are designed to comply with EU crypto asset markets regulations (MiCA) ensuring alignment with strict regulatory standards.
EURQ and USDQ are backed by fiat reserves and are classified as electronic money tokens under DNB rules. Their main goal is to provide a secure and regulated digital payment solution across the European Economic Area (EEA). Leading crypto exchanges Kraken and Bitfinex are set to list these stablecoins on November 21.
Tether's partnership highlights its strategic focus on advancing regulated financial solutions in Europe. Paolo ArduinoThe CEO of the stablecoin issuer stated:
“By supporting Quantoz and delivering technology solutions like Hadron by Tether, we reinforce our commitment to expanding trusted and compatible financial tools that empower users and build trust across the digital ecosystem.”
hadron It is designed to provide advanced capabilities for token issuance, compliance, risk management and ecosystem monitoring in blockchain networks and centralized exchanges.
Response to competitive pressure?
Tether's move comes as it faces regulatory challenges with USDT in Europe. USDT is the largest stablecoin in terms of market capitalization and has faced Eliminate threats in Europe Due to its lack of compliance with MiCA
MiCA is strict Storage requirements have created significant barriers that Arduino claims could pose systemic risks to banks and digital assets.
Thus, investing Tether in Quantoz could be a calculated effort to comply with these regulations. This step positions the company to compete in a primarily dominated market EURC circle and EURCV Societe Generale, which in total make up more than 60% of the Euro-backed stablecoin sector.
Teter did not respond to it CryptoSlate's Request for further comment as of press time.
