Quantoz brings stablecoins EURQ and USDQ to Algorand
QUANTOZ Payments - a regulated issuer of electronic tokens designed to be MiCA compliant - 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. 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.
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.
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.
"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.”
