EU multilateral trading facility (MTF) NPEX, its blockchain partner Dusk, and stablecoin firm Quantoz Payments are collaborating to launch EURQ, a euro stablecoin that is compliant with the Markets in Crypto Assets Regulation (MiCA). If the three Dutch entities are successful, it will be the first time that an MTF licensed exchange (NPEX) uses electronic money tokens (EMT) via a blockchain.
NPEX states in a press release that the aim of the collaboration is to “create a secure and legally compliant bridge between traditional financial systems and blockchain-based applications”. The partnership should pave the way for “traditional, regulated financial transactions at scale via the Dusk blockchain”.
An improved experience
Users and businesses on the Dusk blockchain can expect EURQ to enable more secure and faster transactions. Quantoz Payments will provide a regulated framework that “simplifies international and business transactions”, especially for firms new to blockchain technology. New applications such as tokenised securities, decentralised finance (DeFi) and digital payments will be supported by “a reliable and euro-backed settlement mechanism”.
NPEX CEO Mark van der Plas says, “A regulated, compliant digital euro is an essential part of building a blockchain exchange.”
