Bitfinex Lists New Stablecoins EURQ and USDQ
Tony Kim Nov 18, 2024 11:54
Bitfinex has announced the listing of the new EURQ and USDQ stablecoins, enhancing the European digital asset ecosystem with these regulated e-money tokens.
Bitfinex, a leading digital asset trading platform, has announced its role as one of the first exchanges to list two newly launched stablecoins, EURQ and USDQ. These stablecoins, referenced to the Euro and US Dollar respectively, are issued by Quantoz Payments, a regulated Electronic Money Institution under the oversight of De Nederlandsche Bank, according to blog.bitfinex.com.
Enhanced Stability and Regulation
Constructed on the Ethereum blockchain, EURQ and USDQ aim to provide secure, transparent, and regulated stablecoin options to the European digital asset market. The introduction of these stablecoins addresses a growing demand for reliable and well-capitalized digital currency options. Quantoz Payments emphasizes the importance of stablecoins that are fully backed and regulated for facilitating faster, cheaper, and more secure transactions.
Bitfinex's Strategic Move
Henry Child, Head of Tokens at Bitfinex, expressed excitement over the listing, highlighting the significance of regulatory compliance and transparency in the evolving digital asset landscape. He noted, "As demand for secure, well-regulated stablecoins continues to grow, EURQ and USDQ represent an important advancement in how blockchain can serve traditional finance needs."
Trading Details
Deposits for EURQ and USDQ were expected to open on November 18, 2024, with trading set to commence on November 21, 2024, contingent on sufficient liquidity. The stablecoins will be available for trading against the US Dollar (EURQ/USD and USDQ/USD) and Tether tokens (EURQ/USDT and USDQ/USDT).
About Bitfinex
Established in 2012, Bitfinex is known for offering advanced trading features and a comprehensive suite of tools for traders and liquidity providers globally. The platform supports peer-to-peer financing, an OTC market, and margin trading across a wide range of digital tokens, focusing on innovation and support for experienced traders.
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