Euro stablecoin startup StablR has secured €3.3 million in seed funding from various investors, including Deribit and Maven 11. StablR launched its euro-backed stablecoin, EurR, in October and has already minted over 10 million tokens. The stablecoin aims to operate across different blockchains with the help of the Qredo Network, ensuring instant access, low costs, and fast transactions. Despite being registered in Malta, StablR falls under EU regulations and complies with the new MiCA framework. The company holds all funds securely and separately from the issuer. StablR's mission is to challenge the dominance of the US dollar by attracting more users to the crypto ecosystem. While dollar-pegged stablecoins like USDT are prevalent, euro-linked alternatives have yet to gain widespread adoption. However, regulatory clarity in Europe, particularly the MiCA regulation, is expected to increase demand for euro-pegged assets.
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