Tether has invested in StablR, a stablecoin company based in Malta, to promote the adoption of stablecoins in Europe through Tether's Hadron tokenization platform.
Tether, the world's largest stablecoin issuer, is increasing its presence in the European market with an investment in StablR, a stablecoin company based in Malta, according to an announcement on December 17.
This investment reaffirms Tether's commitment to the European market, supporting managed stablecoins as new stablecoins are launched in the region.
StablR currently operates two stablecoin projects: StablR Euro (EURR) backed by the euro and StablR USD (USDR) pegged to the US dollar. Both will use Tether's Hadron tokenization platform.
The euro-based stablecoin market is currently valued at $370 million and has seen new developments as the European Union's crypto-asset regulation (MiCA) is set to take effect on December 30.
StablR's EURR accounts for around 1% of the total capitalization of euro-based stablecoins, with a $3.4 million market capitalization. StablR has also raised €3.3 million in a funding round from investors such as Deribit, Maven 11, and Folkvang.
Tether has stopped issuing the EURt stablecoin and Coinbase has also Delisted USDt, indicating the impact of the MiCA regulations.
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The article Tether supports European stablecoin company StablR first appeared on CoinMoi.
