Two companies supported by Tether — StablR and Oobit — announced the launch of MiCA-compliant stablecoins in Europe to fill the gap caused by the delisting of $USDT due to EU regulatory requirements. StablR, focused on regulatory compliance, will issue stablecoins $EURR (pegged to the euro) and $USDR (pegged to the dollar), tokenized through the new Tether Hadron platform. These assets meet MiCA requirements, including full reserves and regular audits. Oobit, which raised $25 million in a Series A funding round, is integrating these stablecoins into its cryptocurrency payment platform, offering 5% cashback to encourage usage. The launch comes amid the full implementation of MiCA in December 2024, leading to the delisting of non-compliant stablecoins like USDT on exchanges, including Binance and Kraken. According to crypto.news, 70% of cryptocurrency payments in the EU are used for everyday purchases, highlighting the demand for regulated digital currencies. The collaboration between StablR and Oobit aims to position stablecoins as a primary payment instrument in Europe, aligning with Tether's strategy to maintain market presence through regulated alternatives.
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