20 Nov, 2024

Laos Welcomes Over 5 Million Tourists in 2024, Generating Over USD 1 Billion

Laos has recorded over five million tourists this year, exceeding expectations and generating more than USD 1 billion in revenue, Prime Minister Sonexay Siphandone announced on 18 November.According to the PM, domestic tourist numbers surpassed the target by 27 percent, reflecting the success of the Visit Laos Year 2024 campaign.Sonexay also credited the surge in tourist arrivals to the Laos-China Railway, which connects key destinations like Vang Vieng, Luang Prabang, and Oudomxay. From adventure activities to UNESCO-listed heritage sites, these provinces offer attractions that have made them top tourist destinations.To complement these developments, tourism authorities have worked to enhance services at hotels, guesthouses, and restaurants, while adding new facilities at tourist sites. Looking ahead, the Prime Minister emphasized plans to further promote tourism by targeting specific groups and strengthening collaboration between public and private sectors. Efforts will focus on improving roads, tourist attractions, and facilities, while modernizing tourism management.Beyond the convenience of the railway, Laos’s distinctive natural and cultural offerings have drawn global attention. For instance, the river trips in Nam Et-Phou Louey National Park have earned widespread acclaim, with Condé Nast Traveler ranking the park among the world’s top 10 best night safaris in February 2023.Laos’s dedication to sustainable tourism has also garnered international recognition. Luang Prabang, known for its rich cultural heritage, received an award in the 2024 Green Destinations Top 100 Stories for its commitment to responsible tourism and cultural preservation. The award will be formally presented in Chile from 10 to 12 December.With plans to improve infrastructure and diversify offerings, Laos is set to attract even more visitors in the years ahead.

18 Nov, 2024

Tether-Backed Quantoz Launches Mica-Compliant Stablecoins USDQ, EURQ

Quick Take① Quantoz Payments, a blockchain firm based in the Netherlands, has launched two new MiCA-compliant stablecoins pegged to the Euro and the U.S. dollar.② The stablecoins will be listed on Bitfinex and Kraken on Thursday, Nov. 21.③ Tether, alongside Kraken and Fabric Ventures, will invest an undisclosed sum in the company.Tether-Backed Quantoz Launches Mica-Compliant Stablecoins USDQ, EURQShortly before the European Union's Markets in Crypto-Assets regulation, known as MiCA, takes full effect in December, a Netherlands-based firm has launched two MiCA-compliant stablecoins. Quantoz Payments is issuing two new tokens, USDQ and EURQ, stablecoins pegged to the dollar and the euro, respectively, on the Ethereum blockchain. Quantoz is regulated and licensed by the Dutch Central Bank as an Electronic Money Institution, and the stablecoins are fully backed by fiat and "highly liquid financial instruments," according to the firm. The launch comes at a crucial time for European crypto investors, with MiCA regulations restricting certain stablecoins set to go into effect in December. While Circle’s EURC and Société Générale’s EURCV now hold a record 67% market share of the euro-stablecoin market, other competitors such as EURQ are likely looking to claim their own share of the market. EURC's stablecoin supply also recently hit an all-time high. Tether, the world's largest stablecoin issuer, has yet to receive a license for its stablecoin USDT under MiCA. Coinbase has also not commented on whether or not it will delist the token in Europe, as it plans to do with other non-compliant stablecoins by the end of the year. The lack of clarity around USDT might provide one reason why Tether invested an undisclosed sum, alongside Kraken and web3 venture capital firm Fabric Ventures, in Quantoz Payments. "Our support for Quantoz highlights Tether’s commitment to fostering innovative and regulated solutions within the digital asset landscape," Tether CEO Paolo Ardoino said. USDQ and EURQ will be available for trading on Bitfinex and Kraken on Thursday, Nov. 21, according to Quantoz. Quantoz will hold 2% of the token on its balance sheet in accordance with MiCA regulations. "The support through this investment round from some of the best businesses in digital assets will enable us to provide a timely solution for digital asset markets as well as unlock the benefits of blockchain-based money for more traditional use cases," Quantoz CEO Arnoud Star Busmann said.