Tether-Backed MiCA Stablecoins in Europe 🚀
Two companies backed by Tether have introduced a new initiative in Europe that complies with MiCA regulations, using Tether's tokenization platform, Hadron. Oobit will integrate StablR Euro (EURR) and StablR USD (USDR) into its platform, allowing EU users to spend and save in stablecoins. This initiative follows Tether's withdrawal of its EURT coin due to MiCA's standards. The stablecoin market is now open for regulatory-compliant options like StablR's offerings. Oobit users will earn 5% cashback in stablecoin rewards by using EURR or USDR. Oobit operates as a mobile crypto payment app compatible with existing Visa and Mastercard systems, while StablR leverages Hadron for compliance audits. With a Series A funding of $25 million led by Tether, Oobit aims to expand crypto as a mainstream payment solution in Europe.
FAQ
❓ What is the MiCA regulation?
MiCA, or Markets in Crypto-Assets Regulation, is a comprehensive framework designed to regulate cryptocurrencies and stablecoins within the EU.
❓ What are EURR and USDR?
EURR and USDR are fiat-pegged stablecoins offered by StablR, compatible with MiCA regulations and available for use across Europe through Oobit's platform.
❓ How does Oobit incentivize stablecoin use?
Oobit offers 5% cashback in stablecoins for transactions made using EURR and USDR on their platform.