- Three Dutch organizations are collaborating to launch EURQ, a MiCAR-compliant euro stablecoin, classified as an electronic money token.
- The partnership involves regulated exchange NPEX, blockchain platform Dusk, and stablecoin issuer Quantoz Payments to support regulated finance.
- EURQ currently exists on Ethereum with €5 million market cap and 27 holders.
- Quantoz Payments received investment from Tether and operates under Dutch Central Bank regulation.
- The initiative aims to support NPEX’s development of a DLT-based stock exchange under the EU’s DLT Pilot Regime.
A new regulated euro stablecoin initiative is taking shape in the Netherlands, as three organizations join forces to develop EURQ, a MiCAR-compliant electronic money token. The collaboration brings together Quantoz Payments, a regulated stablecoin issuer, NPEX, an EU multilateral trading facility, and blockchain platform Dusk.
The project represents a significant step toward regulated digital finance in Europe. “A regulated, compliant, digital euro is a vital piece of the equation to build an on-chain stock exchange,” stated Mark van der Plas, NPEX CEO, highlighting the broader implications for financial markets.
Quantoz Payments, backed by Tether, brings substantial stablecoin expertise to the partnership. The company already manages two other stablecoins: EURD on Algorand and USDQ on Ethereum, with the latter maintaining an $11 million market capitalization. Their new EURQ token has established a presence on Ethereum with a €5 million market cap.
NPEX, operating as a regulated multilateral trading facility and crowdfunding platform in the Netherlands, has facilitated €192 million in SME growth capital since 2020. The exchange’s partnership with Dusk aims to create a DLT-based stock exchange under the EU’s DLT Pilot Regime, which currently has only two approved participants: Germany‘s 21X and Prague CSD.
The initiative is led by Arnoud Star Busmann, Quantoz Payments’ new CEO, who brings extensive experience from founding blockchain-based mining supply chain firm Minehub and his involvement with the VAKT energy commodities platform during his nine-year innovation leadership at ABN Amro.
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