Fintech PR
Quantoz Payments Issues Euro and US Dollar Stablecoins; Receives Backing from Major Crypto-Asset Firms
Quantoz Payments to receive investment from Fabric Ventures, Kraken and Tether
UTRECHT, The Netherlands, Nov. 18, 2024 /PRNewswire/ — Quantoz Payments B.V. (Quantoz), the Netherlands headquartered payments technology company, is pleased to announce that it will start issuing two stablecoins EURQ and USDQ, designed to be MiCAR Compliant, on Monday 18th November.
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.
The new EMTs will facilitate euro and US dollar transfers and payments in secondary markets as well as transfers across digital asset and crypto exchanges. Fiat-referencing stablecoins on blockchains can enable digital and decentralised payments that are faster, more transparent, secure and cheaper when compared to existing payment infrastructure.
Bitfinex and Kraken, two of the world’s longest standing and most secure crypto-asset exchanges, plan to be the first to list EURQ and USDQ for trading to eligible clients on Thursday 21st November.
Arnoud Star Busmann, CEO of Quantoz Payments, said:
“We are thrilled to bring to market truly European-native stablecoins, available on respected venues for European consumers and corporations, issued by a company with its roots in the Netherlands, one of Europe’s leading fintech jurisdictions. The MiCA regulation brings a new level of trust to digital assets markets, not least through its prudential requirements on the issuers of stablecoins. As the world of payments becomes more digital, having well-regulated, transparent and fully backed stablecoins is critical to enabling faster, cheaper and more secure settlement within the world’s largest single market.”
A group of investors including Fabric Ventures, Kraken and Tether are underlining their support for Quantoz by investing in the company.
Anil Hansjee, General Partner at Fabric Ventures, said:
“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. Think regulatory licenses, tier 1 banking partners with adequate liquidity ratios and balance sheets, blockchain expertise, state of the art and scalable compliance onboarding, on chain 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. Quantoz Payments have achieved all this and brought all the right components to the table to succeed. Fabric Ventures are delighted to be participating in this partnership and in an investment thesis that sits firmly at the intersection of our expertise in payments and crypto.”
Mark Greenberg, VP of Product & GM of Consumer at Kraken, said:
“Stablecoins are the backbone of crypto, reshaping the way people connect traditional finance with the decentralized world. We’re pumped to join this investment round and team up with industry partners to push the mission of crypto adoption forward.”
Paolo Ardoino, CEO of Tether said:
“Our support for Quantoz highlights Tether’s commitment to fostering innovative and regulated solutions within the digital asset landscape. By supporting Quantoz and bringing technology solutions like Hadron by Tether, we reinforce our dedication to expanding reliable, compliant financial tools that empower users and build trust across the digital ecosystem.”
Arnoud Star Busmann, CEO at Quantoz Payments, added:
“Quantoz is an established digital payments technology company in the heart of the European Union and started issuing EURD earlier this year, another euro-backed stablecoin focused on e-money solutions for consumer payment ecosystems as well as treasury management for corporates.
“The support through this investment round from some of the best businesses in digital assets will enable us to provide a timely solution for digital asset markets as well as unlock the benefits of blockchain based money for more traditional use cases. We are excited to be partnering with them on this journey.”
The amount of EURQ and USDQ in circulation is fully backed 1-to-1 by fiat reserves and highly liquid financial instruments such as government bonds. These reserves are managed by an independent foundation, subject to strict DNB oversight and are placed in segregated accounts with Tier 1 banks. In addition to the requirement of maintaining 100% reserves to fully back all circulating assets, Quantoz is also required to hold an additional 2% on its own balance sheet as part of its obligations under MiCAR.
About Quantoz Payments
Founded in 2015, Quantoz N.V. is a financial technology company. Its subsidiary, Quantoz Payments, was founded in 2021 and issues USDQ, a US dollar backed E-Money Token (EMT) and two euro-backed EMTs, EURQ and EURD, within the European Economic Area. These EMTs facilitate fast, cheap, transparent and secure blockchain technology based payments.
Incorporated in the Netherlands, the Company holds an Electronic Money Institution (EMI) license from the Dutch supervisory authority, the Dutch Central Bank. The funds received in exchange for the e-money tokens are held by Stichting Quantoz, a bankruptcy remote entity, which ensures that these funds are safeguarded following the requirements of MiCAR. The e-money tokens in circulation are fully backed 1-to-1 with fiat and highly liquid financial instruments. In addition, the Company is required to hold at least an additional 2% of reserves on its balance sheet. Quantoz Payments and Stichting Quantoz are subject to prudential supervision by DNB.
W: https://quantozpay.com/
L: https://www.linkedin.com/company/quantoz/
X: https://x.com/Quantoz
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View original content:https://www.prnewswire.co.uk/news-releases/quantoz-payments-issues-euro-and-us-dollar-stablecoins-receives-backing-from-major-crypto-asset-firms-302307632.html
Fintech PR
The Trader Funds to Showcase Innovative Prop Trading Model at World of Trading 2024 in Frankfurt
HONG KONG, Nov. 18, 2024 /PRNewswire/ — The Trader Funds (hereinafter referred to as TTF), backed by the Magic Compass Group, a leading global fintech company, is excited to announce its participation in the upcoming World of Trading 2024, scheduled to take place on November 22-23 at the Frankfurt Trade Fair. As an Asian pioneer in prop trading models, TTF aims to bring its innovative solutions to the European market, recognizing the region’s potential for growth and the increasing demand for advanced trading technologies.
In recent years, Europe has emerged as a critical hub for financial innovation, and TTF is eager to leverage its expertise in proprietary trading to elevate the trading landscape for European clients. “We believe that our unique approach to prop trading can significantly contribute to the evolving market in Europe, providing prop traders with opportunities.” Alex Zhou, Chief Marketing Officer at TTF, as he unveiled insights about the upcoming event.
Experience the Future of Trading at the Event
Attendees of the World of Trading 2024 can anticipate an engaging and interactive experience at The Trader Funds exhibition booth. TTF will debut a cutting-edge virtual reality (VR) immersive trading simulation, allowing visitors to don VR devices and step into a simulated trading environment. This innovative approach not only demonstrates TTF’s commitment to advancing the trading experience but also provides a unique opportunity for traders to engage with the latest technologies in a fun and accessible way.
At the World of Trading conference, attendees will hear from two leading figures at The Trader Funds (TTF) under the Magic Compass Group. Alex Zhou, Chief Marketing Officer, will present “Catalyst for Capital: Unleashing the Potential of Proprietary Trading with TTF,” where he will unveil how TTF empowers traders through its robust platform and regulatory compliance. Following this, Yuri Zanoni, Marketing Director of TTF, will host an interactive seminar highlighting TTF’s unique offerings, including innovative account structures and the TTF Academy, designed to enhance traders’ skills and profitability. Together, these presentations promise to inspire and equip traders with the tools they need for success in the trading landscape.
In addition to the immersive VR experience and the sharing, TTF proudly announced a strategic partnership with a finance creator from Singapore, who will collaborate with the team at the event. This collaboration reflects TTF’s commitment to merging technology with creativity, fostering a community of informed and engaged traders.
Looking Ahead
With preparations underway for World of Trading 2024, The Trader Funds is poised to make a significant impact in the European financial sector. A team of experts will be present to welcome visitors and showcase how TTF’s cutting-edge technology can empower traders and investors in the prop trading industry. Stay tuned and make sure to catch them at Booth 6 to discover the future of trading with The Trader Funds!
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View original content:https://www.prnewswire.co.uk/news-releases/the-trader-funds-to-showcase-innovative-prop-trading-model-at-world-of-trading-2024-in-frankfurt-302308410.html
Fintech PR
IDB Invest Allocates $3.7 Billion from Sustainable Bonds to Drive Green and Social Impact
- Proceeds from 18 sustainable bonds issued were allocated to 109 green and social projects.
- Funds helped to finance 1.2 million MSMEs, create 145,000 jobs, and reduce over 11 million tons of greenhouse gas emissions.
BAKU, Azerbaijan, Nov. 18, 2024 /PRNewswire/ — IDB Invest launched its annual Sustainable Bond Allocation and Impact Report, marking the third round of proceeds allocation under its Sustainable Debt Framework. The report covers IDB Invest’s bond issuances from 2021 through 2023, showcasing the actual, cumulative impact of these investments in Latin America and the Caribbean. The report was announced during the UN Conference of the Parties on Climate Change (COP29).
According to the new report, of the cumulative $3.7 billion allocated from IDB Invest’s sustainable bond issuances, 56% supported social projects and 44% funded green projects. Notably, the largest share of funding supported projects focused on socioeconomic advancement and empowerment ($1.3 billion) and renewable energy ($1.2 billion).
The report highlights key metrics demonstrating the environmental and social impact, including reducing carbon emissions, increasing renewable energy, and expanding financing for underserved populations.
“Our projects address the region’s pressing challenges while fostering partnerships for innovation, economic growth, and social inclusion,” said James Scriven, CEO of IDB Invest. “From environmentally focused efforts like greenhouse gas reduction, wastewater management, and renewable energy, to socially-driven initiatives that provide access to clean water, create jobs, and support MSMEs, we’re driving positive change.”
An independent review by Sustainalytics confirmed the report meets IDB Invest’s Sustainable Debt Framework criteria and reporting commitments.
The report is a cornerstone of IDB Invest’s Sustainable Debt Framework, which enables IDB Invest to issue green, social and sustainability bonds aligned with the Green Bond Principles and the Social Bond Principles published by the International Capital Market Association.
About IDB Invest
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website idbinvest.org.
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View original content:https://www.prnewswire.co.uk/news-releases/idb-invest-allocates-3-7-billion-from-sustainable-bonds-to-drive-green-and-social-impact-302307668.html
Pioneering ETD Reporting product to enhance regulatory transparency for listed derivatives
NEW YORK, Nov. 18, 2024 /PRNewswire/ — Droit, a leading technology firm in computational law and regulation, today announces the launch of its Exchange Traded Derivatives (ETD) Reporting product—designed to enhance regulatory transparency and ensure compliance with global reporting requirements for listed derivatives.
Recent scrutiny of position-based reporting obligations to clearing agencies and exchanges has increased pressure on clearing firms to upgrade their reporting infrastructure. Both internal and external audits are pushing clearing firms to adopt stricter controls, ensuring completeness and accuracy akin to OTC transaction reporting standards.
ETD Reporting from Droit provides precise identification and management of reporting obligations for seamless quality assurance of reports pre- or post-submission. Initially focusing on high-risk clearing, collateral, and margin reports, the ETD Reporting product is set to expand beyond futures and options to support a broader range of listed instruments.
With regulators stepping up enforcement and issuing fines for misreporting, clearing firms face the dual challenges of handling vast volumes of trade and position data daily while navigating complex, diverse global regulatory requirements. Senior executives are also pressured to ensure a cohesive quality assurance process exists across their enterprise. Yet, many clearing brokers still rely on outdated, opaque systems that lack transparency and auditability.
Droit’s ETD Reporting delivers a comprehensive quality assurance platform to provide a consistent approach to regulatory compliance. With complete insight into each decision made and the ability to trace the logic through to the underlying source text, the product ensures clarity and accuracy in complex regulatory interpretations.
“Our new ETD Reporting product establishes a unified quality assurance process across Exchange Traded Derivative reports,” said Blythe Barber, Head of Business Development, Americas of Droit. “By using Droit for completeness and accuracy checks, clearing firms can adopt a single global process, significantly reducing the operational burden of current manual methods. Front and middle office teams can fully focus on client opportunities, confident that reporting obligations have been fulfilled.”
“ETD Reporting marks a key step in our strategy to expand our regulatory reporting products to listed derivatives,” said Brock Arnason, Founder and Chief Executive Officer of Droit. “Our clients have many regulatory reporting obligations across departments within their firms. By adding ETD Reporting to our product suite, we aim to provide one platform to advance global compliance and real-time controls, helping our clients navigate these challenges with confidence.”
About Droit
Droit is a technology firm at the forefront of computational law and regulation within finance and other domains. Founded in 2012, Droit counts many of the largest financial institutions as its clients. Its award-winning, patented platform Adept provides an implementation of regulatory rules reflecting industry consensus. The Adept platform processes tens of millions of inquiries a day, deciding in real-time which interactions are legally permissible across the globe. Adept is used by institutions to evaluate, with sub-millisecond latency, the full regulatory implications of any given interaction within their transactional infrastructure.
For more information visit droit.tech. To obtain more information about Droit’s products, please contact [email protected].
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View original content:https://www.prnewswire.co.uk/news-releases/droit-launches-dedicated-product-for-exchange-traded-derivatives-reporting-302307548.html
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