Tether-backed Oobit and StablR launch MiCA-compliant stablecoin

Two Tether-backed companies, StablR and Oobit, have launched a 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) by major exchanges such as Binance and Kraken in the European Economic Area.

StablR, a stablecoin issuer focusing on regulatory alignment, will issue the EURR (euro-backed) and USDR (USD-backed) stablecoins.

These assets will be tokenized via Tether’s new Hadron platform and are designed to meet MiCA’s requirements, including full asset backing and regular audits, according to a release shared with crypto.news.

Oobit, which recently secured $25 million in Series A funding, will integrate these stablecoins into its crypto payments platform. To encourage adoption, Oobit is offering 5% cashback on transactions made with either EURR or USDR. 

The company reports that 70% of crypto payments in the EU are now being used for everyday goods such as food and basic commodities.

Stablecoins entering mainstream markets

The collaboration 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 addresses the gap left by the USDT delisting and reflects the increasing demand for compliant alternatives in a stablecoin market valued at over $400 million for euro-backed assets alone as of late 2024.

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