Two Tether-backed companies, StablR and Oobit, have launched a new initiative to deliver MiCA-compliant stablecoin solutions across Europe.
The move comes amid heightened regulatory enforcement under the EU’s Markets in Crypto-Assets framework, which has led to the delisting of USDT (USDT) by major exchanges such as Binance and Kraken in the European Economic Area.
StablR, a stablecoin issuer focusing on regulatory alignment, will issue the EURR (euro-backed) and USDR (USD-backed) stablecoins.
These assets will be tokenized via Tether’s new Hadron platform and are designed to meet MiCA’s requirements, including full asset backing and regular audits, according to a release shared with crypto.news.
Oobit, which recently secured $25 million in Series A funding, will integrate these stablecoins into its crypto payments platform. To encourage adoption, Oobit is offering 5% cashback on transactions made with either EURR or USDR.
The company reports that 70% of crypto payments in the EU are now being used for everyday goods such as food and basic commodities.
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Stablecoins entering mainstream markets
The collaboration aims to position stablecoins as mainstream payment tools, not just trading instruments. “This is a critical step in our mission to make crypto a primary medium of exchange,” said Oobit CEO Amram Adar.
The launch addresses the gap left by the USDT delisting and reflects the increasing demand for compliant alternatives in a stablecoin market valued at over $400 million for euro-backed assets alone as of late 2024.
As crypto payments continue to grow in popularity, the partnership between StablR and Oobit signals a shift toward regulated, real-world use cases for digital currencies in Europe.
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