Introduction
In a significant move towards enhancing global payment systems, Starlynk, Changer.ae, and Quantoz Payments have formed an alliance to establish cross-border payment channels utilizing stablecoins. This initiative marks a milestone with Shanghai Tang stepping in as the inaugural international retailer to accept stablecoin payments in both EURQ and USDQ formats for their goods, applicable in stores and online across Hong Kong, Singapore, Europe, and the United States.
Collaboration Details
The collaboration was unveiled through a series of Memorandums of Understanding (MOUs) that aim to facilitate regulated transactions across key regions. Notably, Changer.ae and Starlynk will implement on/off-ramp services for the UAE Dirham (AED), ensuring compliant stablecoin settlements throughout Asia, the Middle East, and nations with significant Muslim populations. This is particularly relevant as businesses increasingly demand secure, regulated frameworks for their financial exchanges.
Technological Integration
Meanwhile, Starlynk and Quantoz Payments are working to weave together their technological infrastructures, focusing on MiCA-compliant stablecoins to enhance liquidity and facilitate smoother transactions across Europe, Asia, and the Middle East. Changer.ae and Quantoz are also embarking on an ambitious project to create the first regulated corridor linking the UAE and Europe for stablecoin-based trade and treasury solutions. This will merge Changer.ae’s capacities in regulated custody, conversion, and escrow services with Quantoz’s robust electronic money systems.
Statements from Leaders
“Businesses require compliant pathways that connect local currencies with regulated stablecoins. Our agreements will effectively pair AED on/off-ramps with efficient settlement methodologies, which is vital for seamless trade for importers, exporters, and merchants between the UAE and Europe. This will provide unparalleled clarity and compliance,” explained Hao Wang, CEO of Changer.ae.
Impact on Retail
As part of this strategy, the collaboration with luxury brand Shanghai Tang signals the growing acceptance of stablecoins as a means of payment. With stablecoins now integrated into retail, customers have greater flexibility in how they transact, which can enhance the efficiency and transparency of payments. Arnoud Star Busmann, CEO of Quantoz Payments, lauded this expansion, stating,
“We genuinely take pride in our growing stablecoin infrastructure, allowing merchants and enterprises to execute transactions more rapidly and at lower costs. The collaboration with Shanghai Tang exemplifies turning our regulatory compliant digital money into practical applications at the checkout counter.”
