Tether's Investment in Quantoz and Launch of MICA-Compliant Stablecoins

Tether has made a strategic investment in the Dutch fintech company Quantoz to establish MICA-compliant stablecoins, namely USDQ and EURQ. This investment aims to enhance Tether's compliance with evolving regulatory frameworks in Europe, particularly the Markets in Crypto-Assets Regulation (MiCA), which is being implemented to govern the use of stablecoins within the EU. Key Developments

Launch Date and Backing: On November 18, 2024, Quantoz successfully launched the USDQ and EURQ stablecoins, supported by Tether, Kraken, and Fabric Ventures. Regulatory Compliance: The stablecoins will be backed by fiat reserves and classified as e-money tokens as per the Dutch Central Bank’s guidelines. This compliance is strategic in navigating regulatory challenges faced by Tether’s USDT stablecoin in Europe. Market Positioning: Tether’s new stablecoins will compete with established products like Circle' Show Less