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Tether invests in the launch of EURQ and USDQ

Wednesday 20 November 2024 09:02 CET | News

Stablecoin issuer Tether has announced its investment to further assist Quantoz Payments in the introduction of EURQ and USDQ, EUR and USD-referenced E-Money Tokens (EMTs) developed to be compliant with MiCAR requirements.

Issued on the Ethereum blockchain, EURQ and USDQ intend to support the advancement of secure and regulated digital asset solutions across Europe, with them being part of Tether’s strategy to scale its reach in the expanding asset tokenization space with Hadron by Tether. In addition, these stablecoins, which are issued by Quantoz Payments, work towards providing faster, more cost-effective, and transparent financial transactions compared to traditional payment systems, as they facilitate digital euro and dollar transfers across secondary markets and crypto exchanges.

Tether announces investment in the launch of EURQ and USDQ

Tether’s contribution to tokenization advancement

To support this initiative, Tether decided to participate in an investment round to assist Quantoz Payments, with the move falling in line with the company’s commitment to facilitating innovation and compliant financial solutions worldwide. When commenting on the announcement, representatives from Tether mentioned that supporting Quantoz and delivering technology solutions such as Hadron by Tether allows the company to reinforce its mission of scaling reliable, compliant financial tools that meet the needs, demands, and preferences of users and increases trust in the digital landscape.

By investing in initiatives like Quantoz, Tether works towards advancing the digital economy and delivering economic opportunity and broader financial inclusion. When it comes to its solution, the company offers Hadron by Tether, which is an intuitive platform for issuing and managing the life cycle of digital tokenized assets with a focus on offering a comprehensive suite of tools for compliance, KYC, AML, Know-Your-Transaction, risk management, and secondary market ecosystem monitoring.

Furthermore, Quantoz Payments is not the first initiative in which Tether invests, with the company offering a USD 3 million investment to Kem to scale its presence in the P2P payments sector. The capital injection was set to be used to facilitate the adoption of USD₮, a digital currency designed to augment access to digital financial systems across the region. In addition, the move aligned with Tether’s objective of increasing financial accessibility and supporting Kem’s role in providing real-time payment solutions.


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Keywords: stablecoin, digital euro, digital assets, digital dollar, cryptocurrency, tokenization, network tokenisation
Categories: DeFi & Crypto & Web3
Companies: Quantoz Payments, Tether
Countries: Europe
This article is part of category

DeFi & Crypto & Web3

Quantoz Payments

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Tether

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