December 17, 2024 — Tether, the largest digital asset company in the world, has invested in StablR, the European stablecoin provider, which seeks to accelerate adoption in the region.
Tether’s investment into StablR signals its commitment to the European market and its support for leading, fully regulated stablecoins. The decision comes amid a number of stablecoin launches in Europe, including StablR’s EURR and USDR, which are poised to unlock improved liquidity management, reduced transaction cost, and significant savings for their users.
The European stablecoin market, with a market cap of almost $400M for EUR-pegged stablecoins alone, has experienced significant momentum in recent months, driven by the impetus of the EU’s MiCA framework which is set to come into full effect on December 30th. This regulatory overhaul mandates exchanges and stablecoin issuers to adhere to stringent compliance standards across the jurisdiction.
StablR will use the new tokenization platform Hadron by Tether, which was launched last month to simplify the tokenization of stocks, bonds, commodities, stablecoins, and more. Designed to provide an easy-to-use software as a service interface for the full token lifecycle for individuals, businesses, and nation-states, Hadron by Tether also emphasizes providing a comprehensive compliance toolkit, Know-Your-Customer (KYC), Anti-Money-Laundering (AML), Know-Your-Transaction, Risk Management, and secondary market ecosystem monitoring.
“The European stablecoin market is rapidly evolving and it’s poised for significant further growth in line with broader trends. Tether is proud to support initiatives like StablR that align with our vision for fostering compliance, innovation, and accessibility in the European stablecoin market,” said Paolo Ardoino, Chief Executive Officer at Tether. “This investment demonstrates our support for the European digital asset ecosystem. The deployment of Hadron by Tether, our asset tokenization platform that simplifies the process of converting various assets into digital tokens, is a significant step towards an economy with unprecedented benefits, flexibility, and transparency.”
Gijs op de Weegh, Founder and CEO at StablR, said: “We’ve seen an incredible surge in the global stablecoin market, perfectly aligned with the growing momentum of the digital assets economy. Just last month, the global stablecoin market shattered records, reaching an unprecedented market cap of $190 billion. From the outset, StablR has been laser-focused on delivering unmatched compliance, liquidity, and flexibility for institutions, and merchants. With the support of these new investors, that’s exactly what we’re delivering. This is a new era for stablecoins and StablR is very much at the helm.”
In July of this year, StablR secured an Electronic Money Institution (EMI) license authorized by the Malta Financial Services Authority, for its MiCAR-compliant stablecoins. StablR stablecoins are fully compliant and trusted, fully-backed stablecoins launched to address the growing demand from financial institutions, enterprises, and retail users for compliant, secure, and easily redeemable digital assets.
Currently, StablR offers two coins: EURR and USDR, both issued as ERC-20 and Solana-compatible tokens. As a standard, these stablecoins can be seamlessly transferred to any Ethereum or Solana wallet address. Fully regulated, StablR ensures compliance while delivering a reliable stablecoin solution. Integrated with both Ethereum and Solana, StablR is set to expand across additional networks utilizing Hadron by Tether, further enhancing accessibility, liquidity, and interoperability within the broader blockchain ecosystem.
This is a further demonstration of Tether’s commitment to fostering innovative and regulated solutions within the European digital asset landscape following last month’s announcement.