KEY TAKEAWAYS
- Kraken has launched trading for two new stablecoins, Quantoz EURQ and USDQ, pegged to the Euro and US Dollar respectively.
- Users can trade these stablecoins on Kraken and Kraken Pro, with specific trading pairs and conditions outlined.
- EURQ and USDQ are designed for fast, secure, and low-cost digital transactions, enhancing cross-border payment capabilities.
- These stablecoins are currently unavailable for trading in Canada, Germany, and the UK, with future asset additions to be announced later.
Kraken has announced the addition of two new stablecoins, Quantoz EURQ (EURQ) and Quantoz USDQ (USDQ), to its trading platform. Trading for these assets went live at 14:00 PM UTC on November 21, 2024. This development allows users to engage with these stablecoins, which are pegged to the Euro and the US Dollar, respectively.
To begin trading EURQ and USDQ on Kraken, users can navigate to the ‘Funding’ section of their accounts, select the desired asset, and proceed with the deposit. It is crucial to ensure that deposits are made using networks supported by Kraken, as deposits made through unsupported networks may result in loss.
The new tokens are available for trading on both Kraken and Kraken Pro platforms. The trading pairs include EURQ/USD, EURQ/USDC, USDQ/USD, and USDQ/USDC, with a price decimal precision of 0.0001 and a minimum order size and deposit of 5 units for each token. However, trading via the Kraken App and Instant Buy will only be available once sufficient liquidity conditions are met.
Stablecoin Features and Availability
Quantoz EURQ is a stablecoin pegged to the Euro, designed to facilitate seamless and secure digital transactions. It leverages blockchain technology to ensure stability, fast transfers, and low fees, making it suitable for cross-border payments within the Eurozone.
Similarly, Quantoz USDQ is pegged to the US Dollar and offers fast, secure, and low-cost digital transactions. It is intended to provide stability and reliability for international payments, trading, and as a store of value in the digital finance ecosystem.
Currently, EURQ and USDQ are not available for trading in Canada, Germany, and the United Kingdom. Kraken has stated that while more assets may be added in the future, details will only be disclosed shortly before their launch.
For more information, the official announcement can be found here.
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