Tether Invests in Quantoz and Launches Euro and US Dollar Stablecoins
Tether invested in Quantoz alongside Kraken and Fabric Ventures, with the investment amount undisclosed.
Additionally, Tether announced the launch of euro (EURQ) and US dollar (USDQ) stablecoins. These E-Money Tokens (EMTs) are issued on the Ethereum blockchain by Quantoz, an Electronic Money Institution authorized by De Nederlandsche Bank (DNB), the Dutch Central Bank.
Both EURQ and USDQ were listed by Bitfinex and Kraken for eligible clients.
Anil Hansjee from Fabric Ventures commented on the regulatory landscape in Europe, noting that while regulations like MICAR aim to streamline stablecoin issuance, few players can scale effectively due to the complexities involved.
Paxos also made headlines by acquiring Membrane Finance, a Finnish Electronic Money Institution, positioning itself to issue MiCA-compliant stablecoins in the EU.
Other notable funding rounds:
- Monkey Tilt announced a $30 million Series A led by Pantera Capital, with participation from Hack VC and Polychain.
- Valantis Labs raised $7.5 million across pre-seed and seed rounds led by Cyber Fund, Kraken Ventures, and Seven X Ventures.
- OpenLayer reported a $5 million raise, with contributions from a16z’s CSX, Geometry, and Spartan.
- Barter DeFi announced a $3 million seed round led by Maven 11 Capital.