Oobit and StablR announced the launch of a payment solution in the EU that complies with the MiCA regulation. Both companies are affiliated with Tether, which doesn’t plan to obtain a license to operate in Europe.
FinTech startup Oobit entered into a strategic partnership with stablecoin issuer StablR to create a payment solution using the digital stablecoins EURR and USDR. Both assets fully comply with the EU-wide MiCA regulation.
The new payment solution will allow European users to pay for goods and services in euros and U.S. dollars using stablecoins issued on the Ethereum and Solana blockchains. According to the companies, the assets will be fully backed by fiat reserves held in regulated European institutions, ensuring that all transactions comply with regional KYC and AML requirements.
Both companies are connected to Tether, the issuer of the largest market-cap stablecoin USDT. In February 2024, Tether led a $25 million funding round for Oobit, and in December of the same year, Tether announced strategic investments in StablR.
Moreover, the payment infrastructure for the EURR and USDR stablecoins is built on Hadron by Tether , owned by the Tether Group. However, Tether itself currently doesn’t hold a MiCA license and doesn’t intend to obtain one, limiting the direct presence of USDT in the European market. Nevertheless, through investments in MiCA-compliant projects, Tether continues to maintain an indirect presence in the European crypto market.
Paolo Ardoino, CEO of Tether, stated that MiCA requirements pose risks to the stability of stablecoins, and therefore the company won’t apply for a license under the regulation. This decision led some crypto exchanges to delist USDT for EU users in order to comply with the new regulatory requirements, which fully took effect in January 2025.
At the same time, Tether is actively expanding its presence in other markets by launching stablecoins pegged to the UAE dirham and the British pound . The company is also investing in educational initiatives, strengthening controls over USDT usage on secondary markets, and increasing BTC mining capacity.
