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Tether Teams Up with StablR
Tether, the company behind USDT, is making moves in Europe by partnering with StablR, a Malta-based stablecoin firm. StablR will use Tether’s Hadron technology to support its two stablecoins:
StablR Euro (EURR) – tied to the euro
StablR USD (USDR) – pegged to the U.S. dollar
Europe’s Stablecoin Market Is Growing
Europe’s stablecoin market is worth about $370 million, led by:
Stasis Euro (EURS) – $130 million
Euro Coin (EURC) – $90 million
StablR’s EURR is still small, with a $3.4 million market cap, but it’s gaining ground.
Tether’s CEO Paolo Ardoino said they’re excited to support projects like StablR that focus on compliance and innovation as Europe’s crypto market evolves.
StablR’s Compliance Edge
StablR, founded in 2023, has raised €3.3 million from key investors like crypto exchange Deribit and venture fund Maven 11. It’s also fully licensed as an Electronic Money Institution (EMI), meaning its stablecoins meet Europe’s new MiCA regulations.
With MiCA rules set to fully take effect on December 30, StablR is well-positioned to grow its market share.
Tether’s Strategy in Europe
Tether’s support for StablR comes as its own stablecoin, USDT, faces challenges in Europe. Coinbase recently delisted USDT to comply with MiCA rules, and Tether itself stopped supporting its euro-backed stablecoin EURt last month.
Despite these hurdles, Tether is doubling down on Europe, backing projects like StablR to drive growth and compliance in the region’s stablecoin market.
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