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Dutch payments company Quantoz Payments has become a principal member of Visa, enabling it to issue virtual debit cards backed by its regulated e-money tokens and sponsor third-party fintechs seeking to offer stablecoin-linked payment products across Europe.
Under the agreement, Quantoz will be able to issue Visa-branded virtual cards tied to balances held in its USDQ, EURQ and EURD e-money tokens, allowing users to spend those funds online, in stores and through mobile wallets.
The company will also act as a BIN sponsor, enabling fintech partners to embed card issuance directly into their platforms.
Quantoz holds an Electronic Money Institution license from the Dutch central bank and issues its tokens as regulated electronic money within the European Economic Area, with reserves held 1:1 in safeguarded accounts through a bankruptcy-remote foundation structure. The company said it is also required to maintain at least an additional 2% reserve buffer on its balance sheet.
Quantoz and Visa did not disclose a launch date for the first card programs or name any fintech partners that will use the infrastructure. The partnership is focused on the European market.
Related: Stablecoins gain ground for paychecks and daily spending: BVNK report
Big payment networks racing to integrate stablecoins
As major payment networks compete to integrate stablecoins into mainstream finance, Visa has expanded its capabilities through new settlement integrations and cross-border pilots, while Mastercard is weighing acquisitions to accelerate its onchain infrastructure strategy.
In July, Visa broadened its stablecoin settlement platform to support Global Dollar (USDG), PayPal USD (PYUSD) and Euro Coin (EURC), while adding integration with the Stellar and Avalanche blockchains, allowing institutions to move supported stablecoins across those networks or convert them into fiat through Visa’s infrastructure.
In September, the company launched a Visa Direct pilot enabling banks to pre-fund cross-border payments with USDC and EURC, aiming to support near-instant payouts while reducing the need to park capital in advance.
The following month, Visa said it would expand support to four stablecoins across four separate blockchains, with CEO Ryan McInerney telling investors that Visa plans to continue growing its stablecoin capabilities after increased activity over the past fiscal year.
Unlike Visa’s expansion through pilots and network integrations, Mastercard appears to be pursuing a more acquisition-driven strategy to deepen its stablecoin infrastructure.
Rather than building each onchain component internally, Mastercard is evaluating the purchase of a turnkey provider that could be integrated into its existing payments network.
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