Tether-backed StablR and Oobit Launch New Initiative to Deliver MiCA-compliant Stablecoin Solutions Across Europe

The move comes amid heightened regulatory enforcement under the EU’s Markets in Crypto-Assets framework, which has led to the delisting of USDT (USDT)

Two Tether-backed companies, StablR and Oobit, have joined forces to launch MiCA-compliant stablecoin solutions in Europe. The initiative aims to provide European users with accessible and regulated options for crypto payments and trading, especially following the delisting of Tether’s USDT by major exchanges.

The collaboration will see StablR, a stablecoin issuer concentrating on regulatory alignment, issue its EURR (euro-backed) and USDR (USD-backed) stablecoins on Tether’s new Hadron platform. These assets are designed to adhere to the stipulations of MiCA, including full asset backing and regular audits, according to a press release.

These stablecoins will be integrated into Oobit’s crypto payments platform, which recently secured $25 million in Series A funding to expand its operations. To encourage adoption of the stablecoins for everyday use cases, Oobit will be offering a 5% cashback reward on transactions made with either EURR or USDR.

The company notes that a significant portion, about 70%, of crypto payments in the EU are being used for food and basic commodities.

The partnership aims to position stablecoins as mainstream payment tools, not just trading instruments.

“This is a critical step in our mission to make crypto a primary medium of exchange,” said Oobit CEO Amram Adar.

The launch comes amid heightened regulatory enforcement in the EU with the rollout of the Markets in Crypto-Assets framework, which has led to the delisting of USDT by major exchanges such as Binance and Kraken in the European Economic Area.

This move has created an opening for other stablecoins to expand their reach and presents a challenge for users seeking alternatives in a market segment that is quickly expanding. For instance, euro-backed stablecoins alone had a market value of over $400 million by late 2024.

As crypto payments continue to grow in popularity and demand for compliant solutions increases, the partnership between StablR and Oobit signals a shift toward regulated, real-world use cases for digital currencies in Europe.