StablR operates two stablecoin projects: the euro-backed StablR Euro (EURR) and the U.S. dollar-backed StablR USD (USDR). Both stablecoins can be transferred using Tether’s tokenization platform Hadron, supporting Ethereum and Solana wallets.

European Stablecoin Market

The European stablecoin market has experienced significant growth ahead of the full implementation of the MiCA regulations on December 30. According to Crypto.com data, euro-backed stablecoins have a total market capitalization of $367 million. Leading the market are Stasis Euro (EURS) and Euro Coin (EURC), while EURR holds just a 1% market share.

Tether CEO Paolo Ardoino emphasized the rapid evolution of the European stablecoin market and its potential for further growth. He highlighted Tether’s support for StablR as a way to promote compliance, innovation, and accessibility in the region.

StablR’s Market Position

Currently, StablR Euro (EURR) has a market capitalization of $3.4 million, with its total supply standing at 5.7 million euros ($5.9 million). StablR’s US dollar stablecoin USDR has not yet been listed on major data platforms.

Founded in 2023, StablR raised €3.3 million in seed funding from notable investors, including crypto derivatives exchange Deribit, Theta Capital, and Folkvang. In July, StablR acquired its Electronic Money Institution license, allowing it to issue fully MiCA-compliant stablecoins.

Following this announcement, major crypto exchange Coinbase delisted USDT due to MiCA regulations. In November, Tether had also suspended its euro-backed stablecoin EURt.

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