Tether has made a move this week by investing in Quantoz along with Kraken Ventures and Fabric Ventures. The amount invested was not disclosed by the team.
The Dutch stablecoin firm also announced the launch of euro and US-dollar stablecoins.
“EURQ and USDQ are respectively euro and US dollar-referenced E-Money Tokens (EMTs), issued on the Ethereum blockchain by Quantoz, an Electronic Money Institution (EMI) authorised and supervised by De Nederlandsche Bank (DNB), the Dutch Central Bank,” Press release:
Click here to read our opinions section. Now is the time to regulate US stablecoins
Bitfinex & Kraken both listed EURQ and USDQ on their exchanges earlier in the week. “eligible clients.”
“Europeans speak loudly about MICAR making stablecoin issuance seamless in Europe and whilst there are clearer rules, there are very few players that can pull it off at scale,” Anil Hansjee, general partner of Fabric Ventures, said this in a recent press release.
Click here to read our opinions section. MiCA compliance is driving Europe into a crypto-consolidation frenzy
“Think regulatory licenses, tier 1 banking partners with adequate liquidity ratios and balance sheets, blockchain expertise, state of the art and scalable compliance onboarding, onchain transaction monitoring, treasury and risk management, security DNA, let alone an ability to convince major European exchanges to list you and market makers to provide liquidity, as well as dapps to build use cases around you,” Hansjee continues.
Paxos had news of its own to share with the world earlier this week.
Paxos has announced that it acquired Membrane Finance for a similar amount. Paxos now has a regulatory entity in the EU where it will be issuing stablecoins compliant with MiCA.
Membrane, a Finnish firm with an Electronic Money Institution license (EMI), is a leading provider of electronic money services.
Other notable funding rounds
- Monkey Tilt has announced a $30 Million Series A led primarily by Pantera Capital. Hack VC and Polychain were also involved.
- Valantis Labs secured $7.5 million in seed and pre-seed rounds, led by Cyber Fund and Kraken Ventures.
- OpenLayer raised $5 million. CSX from a16z, Geometry, and Spartan contributed.
- Barter DeFi announces a $3 Million Seed Round led by Maven 11 Capital.
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