A New Euro Stablecoin Firm Raises €3.3 million From Investors

A New Euro Stablecoin Firm Raises €3.3 million From Investors

Investment Stablecoin

By Miles

07 Nov 2023 (8 months ago)

2 min read

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StablR raises €3.3M to boost its Euro digital money, aims for safer online trading.

StablR, a company focusing on digital money tied to the euro ( A Euro stablecoin) has raised €3.3 million from investors in a seed round to expand its business.

Investors like Deribit and Maven 11 have supported StablR, which has created over 10 million EurR coins since last October. StablR started in August 2022 and aims to make digital money more stable and safe.

StablR that started this time last year created EurR coin to be safe and transparent, with cash reserves which it plans to announce online  every day via Chainlink. They are regulated in a country in Europe called Malta and they keep their funds fully separated from the issuer. It is stored with an Irish Trust that is managed by an independent asset manager for extra security.

StablR wants it's euro stablecoins to make trading and finance smoother in digital markets, as most digital money today is linked to the US dollar. Less than 590 million euro stablecoins are currently used, but StablR believes this will increase, especially with new European rules starting in July.

Euro stablecoins could help Europeans do business easier, as they prefer using euros for buying, borrowing, and trading internationally. StablR sees a big opportunity to help Europeans with ease in converting currencies to crypto and crypto to Euro.

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