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Oobit and StablR have revealed the introduction of a payment solution in the EU that adheres to the MiCA regulation. Both entities are associated with Tether, which does not intend to acquire a license for operations in Europe.
The FinTech startup Oobit has formed a strategic alliance with stablecoin issuer StablR to develop a payment solution utilizing the digital stablecoins EURR and USDR. Both currencies are in full compliance with the EU-wide MiCA regulation.
This new payment solution will enable European users to make purchases for goods and services in euros and U.S. dollars using stablecoins issued on the Ethereum and Solana blockchains. As stated by the companies, these assets will be entirely backed by fiat reserves maintained in regulated European institutions, ensuring that all transactions meet local KYC and AML standards.
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Both firms are linked to Tether, the issuer of the largest market-cap stablecoin, USDT. In February 2024, Tether spearheaded a $25 million funding round for Oobit, and in December of the same year, Tether announced strategic investments in StablR.
Additionally, the payment infrastructure for the EURR and USDR stablecoins is constructed on Hadron by Tether, which is owned by the Tether Group. However, Tether itself currently does not possess a MiCA license and has no plans to obtain one, which restricts the direct presence of USDT in the European market. Nonetheless, through investments in MiCA-compliant initiatives, Tether continues to sustain an indirect presence in the European crypto landscape.
Paolo Ardoino, CEO of Tether, indicated that MiCA requirements present risks to the stability of stablecoins, and thus the company will not seek a license under the regulation. This choice has prompted some crypto exchanges to remove USDT for EU users to adhere to the new regulatory standards, which came into full effect in January 2025.
Simultaneously, Tether is actively broadening its footprint in other markets by launching stablecoins pegged to the UAE dirham and the British pound. The company is also investing in educational programs, enhancing controls over USDT usage in secondary markets, and increasing BTC mining capacity.
Сообщение Tether-Backed Companies Launch Payment Solution Compliant with MiCA появились сначала на CoinsPaid Media.
