21 Nov What Are Quantoz’s EURQ & USDQ Tokens?
Quantoz Payments has introduced MiCA-compliant stablecoins, EURQ, and USDQ, designed to operate within the European Union’s regulated cryptocurrency markets. These tokens, classified as Electronic Money Tokens (EMTs), bridge traditional financial systems and blockchain technology while adhering to stringent regulatory standards set by the EU’s Markets in Crypto-Assets Regulation (MiCAR).
The EURQ and USDQ tokens are designed to address liquidity and payment needs in secondary markets, such as digital asset trading platforms and Decentralised Finance (DeFi) protocols. EURQ, backed by the Euro, and USDQ, backed by the US Dollar, provide stable, low-cost solutions for cross-border transactions, trading, and hedging against cryptocurrency volatility. These tokens are issued on the Ethereum blockchain as ERC-20 tokens, leveraging blockchain’s decentralised infrastructure to enable rapid, secure transfers while adhering to MiCA’s requirements for stability, transparency, and consumer protection.
MiCA compliance is a distinguishing feature of Quantoz’s stablecoins, ensuring that they can be confidently used within regulated EU crypto markets. This compliance mandates robust safeguards, such as independent audits and strict oversight by the Dutch Central Bank (DNB) under an Electronic Money Institution (EMI) licence. Quantoz Payments also ensures the segregation of customer funds from corporate assets, managed by the independent Quantoz Foundation, which oversees the minting and redemption of stablecoins. These measures provide additional layers of trust and security, aligning with regulatory frameworks to support the adoption of stablecoins in institutional and retail markets.
The stablecoins’ utility spans several applications, from facilitating cross-border payments and reducing transaction costs to enhancing DeFi activities like lending and liquidity provision. Their programmability supports diverse use cases in Web3 and the Internet of Things (IoT), enabling compliant micropayments and automated machine-to-machine transactions. With their adherence to MiCA and the advantages of blockchain technology, Quantoz’s stablecoins serve as a critical bridge between traditional finance and the evolving digital asset ecosystem in the European Union.
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What is the EURQ Token?
The EURQ token is an EMT issued by Quantoz Payments, backed by the Euro, and designed to facilitate liquidity and payment needs in secondary markets. As a stablecoin, EURQ is issued on Ethereum as an ERC-20 token, offering stability and compliance with the EU’s MiCAR regulatory framework. Its primary use cases include enabling low-cost, fast transactions for trading on crypto exchanges, cross-border payments, and participation in DeFi protocols. By leveraging Ethereum, EURQ provides a secure and efficient means for digital currency transfers while adhering to strict regulatory standards to ensure transparency and consumer protection within the EU.
What is the USDQ Token?
The USDQ token is an EMT issued by Quantoz Payments, backed 1:1 by the US Dollar, and designed to facilitate stable and efficient transactions within secondary markets. It operates on Ethereum as an ERC-20 token, providing a reliable digital representation of the US Dollar for use in trading, cross-border payments, and DeFi applications. USDQ’s compliance with the newly adopted MiCAR rules ensures it meets rigorous standards for transparency, consumer protection, and regulatory oversight. With its stability and digital asset-based functionality, USDQ enables users to mitigate cryptocurrency volatility while participating seamlessly in digital asset ecosystems across the EU.
EURQ & USDQ Tokenomics
The tokenomics of EURQ and USDQ are structured to maintain their stability by being fully backed 1:1 by reserves of Euros or US Dollars, respectively. For every EURQ or USDQ token issued, an equivalent amount of fiat currency is held in reserve in secure, regulated accounts managed by the Quantoz Foundation. This independent foundation operates solely to safeguard customer funds, ensuring they are segregated from the operational funds of Quantoz Payments. The reserve mechanism is regularly audited by independent entities to verify that the total amount of tokens in circulation is always fully collateralised by corresponding fiat reserves. This backing ensures the tokens’ value stability and compliance with the EU’s regulatory standards, providing users with confidence in their use as digital currency equivalents.
How to Buy EURQ/USDQ on Bitfinex
How to buy EURQ/USDQ with crypto
1. Log in to your Bitfinex account or sign up to create one.
2. Go to the Deposit page.
3. In the Cryptocurrencies section, choose the crypto you plan to buy EURQ/USDQ with and generate a deposit address on the Exchange wallet.
4. Send the crypto to the generated deposit address.
5. Once the funds arrive in your wallet, you can trade them for EURQ/USDQ. Learn how to trade on Bitfinex here.
How to buy EURQ/USDQ with fiat
1. Log in to your Bitfinex account or sign up to create one.
2. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.
3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.
4. Check your Bitfinex registered email for the wire details.
5. Send the funds.
6. Once the funds arrive in your wallet, you can use them to buy EURQ/USDQ.
Also, we have Bitfinex on mobile, so you can easily buy EURQ/USDQ currency while on-the-go.
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