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Tether is investing in StablR to accelerate the adoption of stablecoins in Europe. StablR leverages Tether’s Hadron platform for asset tokenization and regulatory compliance.
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According to a December 17 statement, Tether has invested in European stablecoin provider StableR to accelerate the adoption of stablecoins across Europe.
The investment comes as the deadline for full implementation of the EU's Markets in Cryptoassets (MiCA) regulation approaches. StablR recently received a Maltese Electronic Money Institution (EMI) license. This will allow the company to issue EURR, a MiCA-compliant stablecoin.
As part of the agreement, StableR will utilize Hadron by Tether, a tokenization platform launched last month that enables the tokenization of a variety of assets including stocks, bonds, commodities, and stablecoins. The platform offers comprehensive compliance tools including KYC, AML, risk management, and market surveillance capabilities.
Tether CEO Paolo Ardoino said the European stablecoin market is expected to grow significantly in the future. This move demonstrates Tether's commitment to compliance, innovation, and accessibility.
“This investment demonstrates our support for the European digital asset ecosystem. The rollout of Hadron by Tether, our asset tokenization platform that simplifies the process of converting a variety of assets into digital tokens, is an unprecedented “This is an important step towards an economy with unique benefits, flexibility and transparency,” Paolo said.
“Perfectly in line with the growing momentum of the digital asset economy, we have witnessed an incredible surge in the global stablecoin market. Just last month, the global stablecoin market From the beginning, StablR has been focused on providing institutions and merchants with unparalleled compliance, liquidity and flexibility.” StablR CEO Gijs op de Weegh said.
In addition to EURR, StablR also offers USDR, a stablecoin pegged to the US dollar, similar to USDT and USDC. This product is intended to complement the EURR stablecoin. The company plans to strengthen the interoperability of its stablecoins, currently available as ERC-20 and Solana compatible tokens, by expanding to additional networks via Hadron by Tether.
Cryptocurrency companies are actively preparing for the full implementation of the MiCA regulation, which is scheduled to come into effect on December 30, 2024. The regulatory framework requires exchanges and stablecoin issuers to meet strict compliance standards across jurisdictions.
Major cryptocurrency exchanges have taken steps to suspend or limit support for non-compliant stablecoins.
OKX has removed its USDT trading pair in the European Economic Area EEA in line with MiCA regulations. Uphold has announced that it will discontinue support for several stablecoins, including USDT and DAI, ahead of the implementation of MiCA.
Binance and Coinbase have begun implementing restrictions on stablecoins that do not meet the requirements set in the new standard.
Tether announced last month that it would end support for the euro-pegged stablecoin EURT. The company is currently focusing on new projects such as stablecoins that are compliant with MiCA regulations.
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