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HomeCrypto NewsMarketQuantoz Unveils Euro-Backed Stablecoin EURQ on XRP Ledger Sidechain Xahau Network

Quantoz Unveils Euro-Backed Stablecoin EURQ on XRP Ledger Sidechain Xahau Network

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A fully regulated euro-backed stablecoin, EURQ, is set to launch on the Xahau Network, a smart contract-enabled sidechain of the XRP Ledger (XRPL).

The initiative stems from a partnership between Netherlands-based payments technology company Quantoz Payments and INFTF MTU, a nonprofit dedicated to advancing financial inclusion through blockchain. 

The collaboration aligns with the companies’ shared goal of driving blockchain adoption globally, while establishing a standard for how digital assets should operate — safely, transparently, and in compliance with regulations. 

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EURQ Coming to Xahau 

In the latest partnership, Quantoz and INFTF will launch EURQ on Xahau. This will offer businesses and individuals a transparent, secure, and MiCA-compliant euro-backed stablecoin for seamless use within the ecosystem. 

EURQ serves multiple real-world use cases, ranging from enterprise treasury management to cross-border payments. By offering a stable and regulated euro-pegged stablecoin, the announcement notes that the collaboration enhances Xahau’s attractiveness as a network capable of handling enterprise-grade financial operations. 

A Pivotal Moment for Xahau 

In a statement, Arnoud Star Busman, CEO of Quantoz, noted that integrating EURQ into Xahau marks a significant milestone toward building a more inclusive, blockchain-powered financial ecosystem. 

He expressed enthusiasm about the partnership with INFTF. To him, the move will unlock new opportunities for innovation and enable the creation of services that harness EURQ’s stability and reliability. 

Additionally, Jose Antonio Lázaro Espila, Director of Strategic Partnerships at INFTF, also emphasized the importance of the collaboration. According to him, the Quantoz EURQ stablecoin would enable users within the Xahau network to transact with greater confidence.

He added that the initiative will pave the way for innovative and fully regulated financial services within the ecosystem. 

Xahau Marks Second Anniversary in Style 

Interestingly, the launch of EURQ on Xahau coincides with the second anniversary of the blockchain. For context, Xahau launched on October 30, 2023, by a team of XRPL contributors as part of efforts to expand the XRP Ledger’s capabilities and introduce smart contract functionality.

In a post on X, Quantoz issued a congratulatory message marking Xahau’s second anniversary. It highlighted the announcement of the EURQ stablecoin launch on the network as the perfect way to commemorate the occasion. 

It is worth noting that Quantoz initially launched EURQ, along with its U.S. dollar–pegged stablecoin, on the Ethereum blockchain last year. The company is now expanding its reach by extending support for EURQ to the Xahau Network.

Of its 5 million total supply, 3.35 million are currently in circulation, translating to a market cap of €3.34 million ($3.87 million). 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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