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- With the introduction of MiCA in the European Union (EU), fintechs like Quantoz Payments are issuing highly innovative, secure and regulated stablecoins
- Since their issuance in November 2024, USDQ and EURQ have already achieved listings on over 12 exchanges, reaching a cumulative trading volume of more than $50 million
- Algorand is the first non-EVM blockchain to host Quantoz’s regulated stablecoins, with trading pairs available on Folks Finance
Quantoz Payments, a leading regulated issuer of electronic money tokens that are designed to be compliant with MiCA, has announced the expansion of its stablecoins EURQ and USDQ to the Algorand (ALGO) blockchain. Algorand-based DeFi platform Folks Finance will offer trading pairs for EURQ and USDQ, providing liquidity for these regulated euro and dollar-denominated assets across the ecosystem.
Stablecoins have grown increasingly popular for blockchain-based payments and applications, with an overall market cap of more than 220 billion (Statista). As more stablecoins arrive on the Algorand blockchain, more products and services will become available to users, developers and enterprises who use the network to power applications in sustainability, traceability, public services, real-world tokenization (RWA), and more. Stablecoins are especially important for the use of tokenized real world assets, and Algorand’s unique ability to allow atomic swaps between stablecoins and RWA tokens enables the risk-free, instant, and low-cost exchange of these assets.
Folks Finance is the largest DeFi protocol on Algorand, offering lending, borrowing, and liquid staking services for ALGO and other assets. USDQ and EURQ will be available to deposit for yield, collateralize, and borrow against, all in a permissionless manner through Folks’ smart contracts. Built with security as the priority, Folks’ smart contracts have been audited more than 7 times, with each feature being examined by two auditors. Folks is looking forward to the future of DeFi on Algorand and regards the stablecoin expansion from Quantoz as a major step forward.
Quantoz’s EURQ and USDQ stablecoins are designed to be fully compliant with the EU’s Markets in Crypto-Assets Regulation (MiCA) and adhere to strict financial safeguards. To ensure regulatory compliance and fund protection, all e-money tokens are 102% overcollateralized, with reserves held in a bankruptcy-remote entity (Stichting Quantoz) to ensure full compliance with MiCA’s safeguarding requirements.
"Expanding EURQ and USDQ beyond Ethereum to Algorand, one of the other top tier blockchains, marks a major step in making regulated e-money tokens more accessible across blockchain ecosystems," said Arnoud Star Busmann, CEO of Quantoz Payments. "Algorand’s proven security, low fees, and institutional focus make it the ideal blockchain for us to scale our stablecoin offering and meet growing demand."
Staci Warden, the CEO of Algorand Foundation, added: "Having Quantoz’s MiCA-compliant stablecoins on Algorand is a strong validation of our blockchain’s ability to support regulated financial products. The addition of EURQ and USDQ opens new opportunities for businesses and users to securely and easily transact with digital money.”
