Tether Invests in StablR to Boost Stablecoins in Europe
Date: 2024-12-18 Author: Henry Casey Categories: BUSINESS
The European stablecoin market, which has already reached a market cap of $400 million, has been showing steady growth thanks to the support of the MiCA regulatory framework. The new rules will come into full effect on December 30 and will stimulate the development of the sector.
StablR issues EURR and USDR stablecoins. In the near future, the company intends to integrate Tether's Hadron platform. This technology, introduced in November, provides a full cycle of token management for private and corporate users. Among its key features are KYC/AML compliance, transaction monitoring, and risk management.
Tether CEO Paolo Ardoino noted that the European market is actively growing and is poised for further development. He emphasized that supporting projects like StablR is in line with Tether’s vision of compliance, accessibility, and innovation.
In July, StablR received an Electronic Money Institution (EMI) license from the Malta Financial Services Authority. The company’s regulated coins are ERC-20 and Solana compatible, with future integrations planned for other networks via the Hadron platform.
In November, Tether stopped issuing the EURT stablecoin, citing the increasingly complex regulatory environment in Europe due to the implementation of MiCA. Instead, the company intends to focus on supporting third parties, including StablR projects, as well as developing the Hadron platform.
At the same time, Tether invested in Dutch fintech company Quantoz, which launched the EURQ and USDQ stablecoins on the Ethereum blockchain. These assets are issued by a subsidiary of Quantoz Payments, which is licensed by the Dutch Central Bank and is compliant with all regulatory requirements.
Earlier in August, Paolo Ardoino called MiCA a potential threat to stablecoins and the banking sector. At the same time, major exchanges including Coinbase, Binance, and OKX began restricting European users' access to unregulated stablecoins.
