Tether, Kraken, and Fabric Ventures have partnered with Quantoz Payments to launch EURQ and USDQ, two MiCA-compliant stablecoins, in the EU. Scheduled for release on November 18, these tokens, backed by the euro and the U.S. dollar, are licensed by the Dutch Central Bank as e-money tokens (EMTs). Fully backed by fiat reserves, EURQ and USDQ aim to offer a secure, regulated means of digital payments throughout the European Economic Area. Due to MiCA compliance, which includes a 1:1 fiat backing and a supplemental 2% reserve held by Quantoz, these stablecoins are designed to enhance trust and transparency in crypto transactions. Kraken and Bitfinex plan to list these tokens on November 21. However, Tether's CEO raised concerns about MiCA's requirements possibly introducing systemic risks to traditional banking systems. Meanwhile, Norway is considering the implications of MiCA on its potential central bank digital currency and cross-border payment systems.

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