Tether-backed Stablecoins to Reshape European Crypto Payments Amid USDT Delisting

Two companies backed by Tether—StablR and Oobit—have introduced stablecoins compliant with MiCA regulations designed to address the $USDT void in Europe. StablR plans to issue €EURR and $USDR tokens, which will be tokenized on Tether’s Hadron platform, ensuring full asset backing and adherence to EU regulatory audits. Meanwhile, Oobit, following a $25 million Series A investment, will incorporate these stablecoins into its crypto payments application, providing a 5% cashback on transactions made with them. Oobit highlights that over 70% of crypto payments in the EU are now for daily essentials such as food. The recent delisting of $USDT by Binance and Kraken in the European Economic Area signals a potential shift towards more regulated, mainstream cryptocurrency payments, with this initiative possibly leading the way.