Tether backs European stablecoin firm Stablr amid USDt uncertainty concerns
Introduction
In a move that reinforces its commitment to the European market, Tether, the issuer of the world’s largest stablecoin by market cap, has made an investment in Malta-based StablR. This development comes as the company continues to support regulated stablecoins and further expand its presence in Europe.
Tether’s Investment in StablR
On December 17, Tether announced that it had invested in StablR, a move that highlights its commitment to the European market. StablR operates two stablecoin projects: the euro-backed StablR Euro (EURR) and the United States dollar-pegged StablR USD (USDR). Both tokens will utilize Tether’s tokenization platform, Hadron.
The Growing Demand for Euro-Based Stablecoins
The European stablecoin market has seen significant growth in recent months, with many new initiatives emerging. According to data from Crypto.com, the euro-based stablecoin market currently stands at $367 million, with several major players dominating the space. These include Stasis Euro (EURS) and Euro Coin (EURC), which boast market caps of $130 million and $90 million, respectively.
European Stablecoins by Market Capitalization
| Rank | Token Name | Market Cap |
| — | — | — |
| 1 | EURS (Stasis Euro) | $130 million |
| 2 | EURC (Euro Coin) | $90 million |
| 3 | TUSD (TrueUSD) | $60 million |
| 4 | PAXG (Pax Gold) | $50 million |
| 5 | USDC (USD Coin) | $40 million |
The Role of StablR in the European Stablecoin Market
StablR, founded in 2023, has been at the forefront of innovation in the stablecoin space. With a market capitalization of $3.4 million and a total supply of 5.7 million euros ($5.9 million), according to CoinMarketCap data, StablR’s EURR is a significant player in the euro-based stablecoin market.
The Benefits of Utilizing Tether’s Hadron Platform
Tether’s investment in StablR marks an exciting development for both companies. With its tokenization platform, Hadron, EURR and USDR can be transferred to any Ethereum or Solana wallet address. This integration highlights the potential for seamless cross-platform transactions and further solidifies StablR’s position as a major player in the European stablecoin market.
StablR’s History of Innovation
StablR has been making waves in the industry with its focus on delivering unmatched compliance, liquidity, and flexibility for institutions and merchants. In July 2023, StablR acquired a license to operate as an Electronic Money Institution (EMI), enabling the firm to issue stablecoins fully compliant with new EU regulations.
The Future of Stablecoins in Europe
As the European Union’s Markets in Crypto-Assets Regulation (MiCA) takes full effect on December 30, several major players are shifting their focus towards regulated stablecoins. Tether’s investment in StablR is a testament to its commitment to supporting initiatives that align with its vision for fostering compliance and innovation in the European stablecoin market.
Conclusion
Tether’s investment in StablR marks an exciting development in the European stablecoin market. With its tokenization platform, Hadron, EURR and USDR can now be transferred seamlessly across platforms, further solidifying StablR’s position as a major player in the space. As the industry continues to evolve, Tether’s commitment to supporting regulated stablecoins will undoubtedly play a significant role in shaping its future.
Additional Resources
By maintaining its strong commitment to regulated stablecoins and innovation, Tether is poised to continue playing a leading role in the European stablecoin market.
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