StablR acquires its EMI license for its EURR stablecoin, making it one of the first few to be compliant with European crypto regulations.
StablR, the issuer of the Euro-denominated stablecoin EURR, revealed that it was granted its Electronic Money Institution (EMI) License on Monday 1 July. This positions EURR as a fully compliant and trusted euro-backed stablecoin, addressing the need for liquidity in the European crypto market.
With MiCA’s initial implementation in July 2024, it is now necessary for all stablecoin issuers in the EU to have an Electronic Money Institution (EMI). This regulation mandates strict adherence to rules regarding fiat backing, redeemability, transparency, and security.
The new regulations introduced by MiCA require that all stablecoins are issued from the EU, while reserves are also held in the jurisdiction. Strict transaction limits will also be applied to non-euro-pegged stablecoins, dramatically increasing the importance of having EUR-denominated alternative
Gijs op de Weegh, Founder and CEO at StablR, said: “The last few years have created an environment with a clear demand for transparent, reliable, and trustworthy stablecoin alternatives. This demand is only set to grow further as MiCAR’s stablecoin guidelines come into effect. With the renewed trust that both institutions and the public will have in EUR-backed stablecoins such as EURR, we’re certain that we will see exponential integration of stablecoins into the European financial system.”
In addition, the CEO of StabIR also says: “Euro-denominated stablecoins still represent a relatively small part of the crypto market, but that’s undoubtedly set to change in light of these new rules. In the short term, this unlocks a greater opportunity for the EU’s crypto industry to better leverage the enormous potential of digital assets. In the long run, it enables the European financial system to operate with the certainty it needs to fully integrate and utilise stablecoins.
StablR’s technology is set to enable efficient settlements, fast payouts and full compliance with required AML and sanctions screenings required by the EU.
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