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Tether Targets European Market With New MiCA-Regulated Stablecoins
Tether, the issuer behind the world's largest stablecoin USDT, is charting its return to the European Union’s digital asset market after regulatory changes forced it to pull its euro-backed stablecoin, EURT. Two Tether-backed companies are launching a new initiative to offer MiCA-compliant stablecoins, leveraging the recently introduced Hadron tokenization platform.
Tether’s comeback unfolds in partnership with crypto payments firm Oobit, which is set to integrate euro- and dollar-pegged stablecoins from StablR—EURR and USDR—directly into its payment ecosystem. This move is designed to align with the strict new rules of the European Union’s Markets in Crypto-Assets Regulation (MiCA), setting the stage for compliant, reliable, and secure stablecoin transactions across the region.
Adapting to MiCA: Tether's Strategic European Revival
Why EURT Was Withdrawn and What’s Next
Tether had to withdraw its EURT stablecoin from the European market after MiCA compliance became mandatory. Known for dominating the euro-denominated stablecoin market with a peak capitalization of $500 million, EURT’s exit left room for newcomers. Competing MiCA-compliant euro stablecoins—like EURS from Stasis, EURC from Circle, and EURCV from Société Générale—quickly rose to prominence as regulations became enforceable from June last year.
Even leading crypto exchanges, including Binance and Kraken, have ceased offering USDT trading in the European Economic Area to better align with the evolving regulatory framework.
Oobit and StablR Lead New Integration
Crypto payments app Oobit is stepping up by integrating StablR’s EURR and USDR into its mobile platform. “By adopting MiCA-compliant stablecoins like EURR and USDR, Oobit is setting a new industry standard for regulatory compliance, usability, and accessibility in digital assets,” said Amram Adar, Oobit’s CEO. He emphasized the significance of these developments in establishing cryptocurrencies as a mainstay for daily transactions.
To drive adoption, Oobit is offering a 5% cashback reward paid in stablecoins to users transacting with EURR or USDR.
Oobit’s mobile app supports both iOS and Android platforms and features tap-to-pay functionality. It leverages existing payment infrastructure from Visa and Mastercard, making it easy for European consumers to spend and store value in compliant stablecoins seamlessly. Meanwhile, StablR delivers a robust, scalable platform for issuing euro- and dollar-pegged stablecoins, utilizing Tether’s Hadron engine for asset tokenization and regular on-chain reserve audits to boost transparency.
Strengthening Digital Asset Infrastructure in Europe
Strategic Investments and Regulatory Milestones
Oobit, founded in 2017, secured $25 million in Series A funding last year, led by Tether and supported by investment heavyweights such as CMCC Global’s Titan Fund, 468 Capital, and Anatoly Yakovenko, co-founder of Solana. This backing highlights the industry’s commitment to building an interoperable and regulated digital payments platform for Europe.
Paolo Ardoino, Tether’s CEO, previously underscored the importance of these investments for maintaining Tether’s foothold in the European crypto landscape. In early 2024, StablR obtained an Electronic Money Institution (EMI) license from Malta’s Financial Services Authority, granting it the legal foundation to issue regulated stablecoins throughout Europe.
This licensing makes StablR one of the earliest official adopters of Tether’s Hadron platform, which specializes in on-chain tokenization of real-world assets (RWAs) such as stocks, bonds, commodities, funds, and loyalty points. With this infrastructure, European users gain access to the next generation of regulated, blockchain-powered digital assets.
The Future of Stablecoins in Europe
Tether’s renewed focus on regulatory compliance and transparent operations—bolstered by technological and financial partnerships—positions it as a leader in Europe’s evolving cryptocurrency ecosystem. As MiCA reshapes industry standards, integrations like those with Oobit and StablR are expected to drive mass adoption of compliant stablecoins and reinforce trust in blockchain-based financial solutions.
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