In this post:
- StablR to launch its Euro-backed (EURR) and USD-backed (USDR) stablecoin offerings
- Oobit plans to integrate the stablecoins into its payments platform.
- The Tether-backed firm said all payments made in USDR and EURR will each receive 5% cashback to incentivize adoption.
Two Tether-backed companies, StablR and Oobit, have launched a fully compliant MiCA stablecoin and payment infrastructure in the EU. This comes after the delisting of Tether’s USDT by Binance and Kraken due to MiCA regulations.
MiCA’s full implementation has initiated a demand for regulatory-compliant stablecoins in European markets, prompting firms such as Tether, the largest stablecoin issuer, to seek alternative solutions to continue serving the European stablecoin market. The EU’s stablecoin market was valued at over $400 million for EUR-pegged stablecoins alone as of December 2024.
StablR introduces USDR and EURR stablecoin offerings
The EU’s MiCA framework came into full effect on December 30, 2024, and mandates exchanges and stablecoin issuers to adhere to stringent compliance standards across the jurisdiction. The company’s Euro-backed and USD-backed stablecoin offerings include the StablR Euro (EURR) and StablR USD (USDR).
This will be one of the first live implementations of MiCA-compliant stablecoins being used in consumer crypto payments. Tether believes StablR’s stablecoin offerings are poised to unlock improved liquidity management, reduced transaction costs, and significant savings for their users.
Following the backing by Tether, StablR will leverage Tether’s new tokenization platform Hardon by Tether to simplify the tokenization of its stablecoin offerings. Tether said the platform was designed to provide an easy-to-use software as a service interface for the full token lifecycle for businesses.
The firm believes that the EU’s MiCA framework will play a critical role in ensuring sufficient backing of these stablecoins. It will also ensure regular audits and overall regulatory compliance as per MiCA’s requirements.
“We’re thrilled to partner with Oobit to introduce this innovative payment flow. Payments represent one of the most compelling real-world use cases for stablecoins–delivering significant improvements in cost, speed, and efficiency. This collaboration marks an important step toward driving mainstream adoption.”
-Gijs op de Weegh, CEO of StablR.
Tether’s CEO Paolo Ardoino noted that the company was proud to support initiatives like StablR that align with their vision for fostering compliance, innovation, and accessibility in the European stablecoin market. In July last year, StablR also secured an Electronic Money Institution (EMI) license authorized by the Malta Financial Services Authority, for its MiCAR-compliant stablecoins.
Oobit plans to incentivize adoption of the stablecoins with refunds
Oobit, which recently concluded a $25M series A funding round from Tether, revealed it will integrate the stablecoins into its payments platform. The firm said the move will allow users across Europe to transact seamlessly.
The Tether-backed entity revealed that all payments made in USDR will receive 5% cash back in USDR, and payments in EURR will receive 5% cashback in EURR to incentivize adoption. According to Oobit’s latest crypto usage report, the company noted a rise in everyday crypto demand use cases, with 70% of crypto payments in the EU being allocated towards basic commodities in the retail sector, including food and beverages.
Amram Adar, CEO of Oobit, said the next phase of crypto adoption will be defined by real-world utility under clear regulatory frameworks. He also argued that by integrating MiCA-compliant stablecoins like EURR and USDR, the firm is setting the standard for how digital assets should function and be accessible at scale.
