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Cryptocurrency News Articles

Tether Invests in European Stablecoin Provider StablR to Accelerate Market Adoption

Dec 19, 2024 at 12:36 pm

Tether, a global leader in the stablecoin market, has invested in StablR, a European stablecoin provider focused on institutions and merchants. This partnership aims to accelerate the adoption of stablecoins in Europe by offering compliant and flexible liquidity solutions.

Tether Invests in European Stablecoin Provider StablR to Accelerate Market Adoption

Stablecoin issuer Tether has made an undisclosed investment in European stablecoin provider StablR through its venture capital arm, Tether Ventures. This partnership is aimed at accelerating the adoption of stablecoins in Europe.

Europe’s stablecoin market, valued at nearly $400 million for euro-pegged stablecoins, is set to benefit from the upcoming EU's Markets in Crypto Assets (MiCA) regulation, which will ensure stricter compliance for stablecoin issuers.

StablR's stablecoins, EURR and USDR, are fully backed and designed to meet the needs of financial institutions, businesses, and retail users, with an EMI license from the Malta Financial Services Authority. The company will utilize Tether's tokenization platform, Hadron, to streamline the tokenization of assets like stocks, commodities, and stablecoins, offering tools for compliance and secondary market monitoring.

Paolo Ardoino, Tether's CTO, said:

“The European stablecoin market is rapidly evolving and poised for further growth. Tether is proud to support initiatives like StablR that align with our vision for fostering compliance, innovation, and accessibility. This investment underscores our commitment to strengthening the European digital asset ecosystem.”

StablR's EURR and USDR tokens are available on the Ethereum and Solana networks, with plans to expand to other chains using Hadron to enhance liquidity and accessibility.

Gijs op de Weegh, StablR's CEO, commented:

“We've seen an incredible surge in the global stablecoin market, with a record-breaking $190 billion market cap last month. StablR has been focused on delivering unmatched compliance, liquidity, and flexibility for institutions and merchants. With support from our new investors, we are ushering in a new era for stablecoins.”

News source:igaming.org

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