Tether is a popular stablecoin in the crypto market, offering investors exchange between cryptocurrencies and fiat currencies without affecting the market volatility of other coins. The blockchain-enabled platform has recently announced its investment in StabIR, aiming to increase the stablecoin market across Europe.
Key Takeaways
- Tether is a blockchain platform known for its USDT-stable coin, allowing investors to invest in cryptocurrencies without being affected by the volatility of other cryptocurrencies.
- Tether has recently invested in StableIR, a stablecoin provider in Europe, aiming to enhance the adoption of stablecoins across Europe.
- StabIR already has launched EURR and USDR, and with Tether it utilizes a new tokenization platform called Hardon by Tether to provide a more accessible and interoperable interface.
What is Tether?
Tether is a cryptocurrency, more precisely a stablecoin, whose value is pegged to the US dollar. It is the largest cryptocurrency after Bitcoin and Ethereum. It offers investors an opportunity to invest without worrying about the market volatility of other crypto coins. The coin was launched in July 2014, under the name RealCoin and renamed as ‘Tether’ in November of the same year. Its symbol is USDT.
Tether Market Value
Tether is currently priced at $1, with a market cap of $137.63 billion at the time of writing. It has a total supply of 141.44 billion, of which 137.8 billion are in circulation. The token had an all-time high of $1.22 in February 2015 and an all-time low of $0.5683 in March 2015.
Tether to Invest in StabIR; A Stablecoin Provider in Europe
On December 17, Tether announced an investment in StabIR, a stablecoin startup in Europe. The StabIR mainly focuses on euro-denominated stable coins. The decision is amid the launch of different stablecoins in Europe by other networks.
By backing StabIR, Tether aims to increase its presence in Europe and showcase its support for fully regulated stablecoins. StabIR has already launched coins in Europe including EURR and USDR offering features like improved liquidity, reduced transaction cost, and savings for users.
StabIR will utilize Tether’s new tokenization platform ‘Hadron by Tether’, providing an easy-to-use software interface, comprehensive compliance tool kit, anti-money laundering, know your customer, risk management, and ecosystem monitoring.
What Does Tether’s Investment in StabIR Signify?
The integration of Tether with StabIR showcases the crypto tycoon’s commitment to providing reliable and stable currency options to business firms and consumers across Europe.
Most countries, especially Europe are showing an increased traction towards digital currencies, the partnership increases the adoption of stablecoins as viable alternatives to fiat currencies even further. The collaboration increases the use of stablecoins in different business firms, including technology, finance, and commerce, and also paves the way for further innovations in the future.
More About StabIR
StabIR is a stablecoin provider in Europe that offers unified and open financial services to everyone. By integrating blockchain technology, the platform allows different finance platform users, including DeFi, CeFi, and TradFi to transfer funds between different blockchain platforms. The StabIR ecosystem guarantees safe and transparent transactions of assets along with unmatched liquidity and compliance for financial institutions.
The StabIR stablecoins are fully backed stablecoins launched to meet the increasing demand of individual users and financial organizations. The platform offers two coins, EURR and USDR. These coins are compatible with ERC and Solana and allow seamless transactions across these two blockchain networks.
The integration of the platform with Tether and the utilization of ‘Hadron by Tether expands the blockchain ecosystem further to provide more accessibility and liquidity. The StabIR also received an Electronic Money Institution (EMI) license for their MiCAR-compliant stablecoins.
Final Thoughts
Tether is a fast-growing cryptocurrency pegged with the US dollar. Tether’s investment in StabIR is considered a strategy to enhance its reach across Europe, however, the integration benefits both platforms, providing enhanced accessibility, interoperability, and liquidity. By fostering regulated and innovative solutions, Tether offers stable and reliable cryptocurrencies for individuals and businesses.