Quantoz Joins Visa as Principal Member to Power Stablecoin-Linked Debit Cards in Europe

Dutch payments firm Quantoz Payments has become a principal member of Visa, a move that lets it issue Visa-branded virtual debit cards backed by its regulated e-money tokens and sponsor other fintechs building stablecoin-linked card products across Europe.

Under the agreement, Quantoz can issue virtual debit cards tied to balances held in its USDQ, EURQ and EURD tokens, allowing users to spend those funds online, in-store and via mobile wallets. The company will also operate as a BIN sponsor, enabling third-party fintechs to embed card issuance into their own platforms using Quantoz’s Visa membership.

Quantoz said its tokens are issued as regulated electronic money across the European Economic Area under an Electronic Money Institution licence from the Dutch central bank. 

Reserves are held 1:1 in safeguarded accounts through a bankruptcy-remote foundation structure, and the firm said it must also maintain an additional 2% reserve buffer on its balance sheet.

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Stablecoins In Mainstream Finance

More major payment networks compete to integrate stablecoins into mainstream finance. 

In January, Visa announced adding stablecoin payout and settlement capabilities to Visa Direct through an integration with UK-based infrastructure provider BVNK, widening the ways its real-time payments network can move money globally. 

However, a month later, both Visa and Mastercard downplayed stablecoins in their recent earnings calls, basically claiming that they have no demand apart from trading. 

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