I'm relatively new to algebraic K-theory and stumbled upon the following question. I would be very glad If someone could provide a reference to an answer or a short argument.

We are given an exact category $\mathcal{E}$ with a compatible tensor product $\otimes$, i.e. a bifunctor $\otimes:\mathcal{E} \times \mathcal{E} \to \mathcal{E}$ that is exact in both variables.

In his paper "Algebraic K-theory of Generalized Free Products, Part 1", Waldhausen uses the double $Q$ construction to obtain an induced product in Quillen K-theory

$\mathrm{K}_i(\mathcal{E}) \times \mathrm{K}_j(\mathcal{E}) \to \mathrm{K}_{i+j}(\mathcal{E})$.

But we can also consider $\mathcal{E}$ as a category with cofibrations (the admissible monomorphisms) and weak equivalences (the isomorphisms) and Waldhausen proves in "Algebraic K-theory of spaces" that the associated K-groups are isomorphic to Quillen's. In the same paper, he describes how a bifunctor like $\otimes$ (satisfying a further technical condition) induces a product similar to the above one on the Waldhausen K-groups of $\mathcal{E}$, by applying the $S_{\bullet}$ construction twice.

Is this the same product? That is, are the Quillen and Waldhausen K-theory of $\mathcal{E}$ isomorphic as rings?