Catenaa, Tuesday, June 03, 2025- Two Tether-backed startups have launched a MiCA-compliant stablecoin initiative in Europe, marking a strategic shift by the stablecoin giant as exchanges begin delisting USDT across the European Economic Area.
Crypto payments firm Oobit and stablecoin issuer StablR announced Tuesday they will integrate euro- and dollar-pegged assets, EURR and USDR, into Oobit’s platform.
The move comes amid tightening regulatory conditions under the EU’s Markets in Crypto-Assets (MiCA) framework, which led to the withdrawal of Tether’s euro stablecoin, EURT, from European markets late last year.
The new initiative leverages Tether’s tokenization platform, Hadron, which will provide compliance tools and reserve audits for StablR. Oobit, a tap-to-pay mobile app integrated with Visa and Mastercard systems, will offer 5% cashback incentives for stablecoin usage, aiming to drive adoption across EU consumers.
MiCA’s phased rollout has triggered a reshuffling of the stablecoin market. Former leaders like EURT have ceded ground to regulated competitors such as EURC, EURS, and Société Générale’s EURCV. Exchanges including Binance and Kraken are discontinuing USDT trading pairs in the region to comply with the law.
Oobit’s latest funding round raised $25 million in Series A investment, led by Tether. StablR, one of the first to adopt Hadron, secured a Maltese EMI license earlier this year, granting it authorization to issue fully regulated digital assets across the bloc.
Tether CEO Paolo Ardoino had framed these moves as a strategy to maintain the company’s European foothold, following its declining dominance in the region’s regulated stablecoin landscape.
