Quant Network Selected by European Central Bank for Digital Euro Initiative AllinCrypto May 9, 2025
Quant Network CEO Gilbert Verdian formerly announced that Quant Network has been selected by the European Central Bank as a pioneer partner for their digital Euro project.
The European Central Bank will utilize the help of various partners to create a secure, trusted digital Euro, similar to that of a stablecoin.
Quant Network is joining as part of 70 partners who will make the European Central Bank’s digital euro project become a reality.
Quant Network x European Central Bank: Here’s what it means
Quant Network was chosen by the European Central Bank to help create a secure and trustworthy digital euro for use in digital payments.
According to recent reports, the European Central Bank has been eyeing a digital euro project since 2023.
In recent months, stablecoins have become popularised as their total market capitalization reaches new all-time highs at $242 billion, with President Trump vowing to push new legislation in support of adopting stablecoins.
New rules in the US would allow banking groups and institutions to fully utilize cryptocurrency stablecoins as an alternative means of payment.
Circle, the issuer of USDC, announced that its Circle Payment Network will facilitate cross-border transactions in collaboration with various banks.
Although there exists a Euro stablecoin by Circle called EURC, the European Central Bank is keen to develop a digital asset of its own, possibly pegged to the Euro 1:1.
Quant will be joined by 69 other partners to help bring the token to life. Quant Network’s distributed ledger technology has been used in multiple other projects in collaboration with the Bank of England and The Regulated Liability Network (RLN).
From Gilbert Verdian, Founder and CEO of Quant Network:
“We’re delighted to be part of such a visionary project that leverages our patented technology and tried and tested capabilities to showcase how the digital Euro can enable seamless and secure P2P transactions in real-world scenarios.”
Quant’s QNT token up 21% over 7 days
Over the last 7 days, Quant Network’s native QNT token has surged 21%, following behind Bitcoin as it makes its way towards $100,000.
Quant Network is a highly regulated and centralized network designed for institutional use cases, working with traditional financial firms and governments to enable distributed ledger solutions.
With Quant’s involvement with the European Central Bank now being confirmed, it’s easy to expect that we may see some strong price action from the QNT token heading into 2025.
The post Quant Network Selected by European Central Bank for Digital Euro Initiative first appeared on AllinCrypto.
