Tether, which brought USDT stablecoin, invested in StablR, a European firm. The European Union is set to roll out the Markets in Crypto-Assets regulatory framework on December 30, 2024.
With MiCA, we have set clear compliance standards for stablecoin issuers, offering legal certainty in a place where regulation has been fragmented until now. EURR and USDR are stablecoins released to enable users to make quicker and cheaper transactions.
A stablecoin is a digital currency pegged to some other (fiat) currency to minimize its price volatility. These tokens are important to facilitate cross-border payments and business/company liquidity. With this clarity, European stablecoins are gaining traction, with euro-backed tokens worth a market cap of nearly 400 million.
Tether’s New Tokenization Platform: Hadron
Furthermore, StablR partnered with Tether’s tokenization platform, Hadron, which was launched in November. Hadron takes the horror out of converting your assets, such as stocks, bonds, stablecoins, etc., into a digital token.
The tools will also include compliance tools such as Know Your Customer and Anti Money Laundering to facilitate adhering to MiCA’s stringent requirements.
“Tether’s support of Europe’s digital asset ecosystem is demonstrated in this investment,” said Paolo Ardoino, CEO of Tether. “We want to enable compliance and innovation through tokenization and help platforms with that.”
StablR’s EURR and USDR are fully compliant stablecoins on Ethereum and Solana networks. Literally: It will allow users to make secure, trustless transfers while following regulatory laws.
Commencing a new research fork with StablR, plans are now to extend its presence across other blockchain networks for greater accessibility and liquidity in the digital economy.
