StablR, a company specializing in Euro-based digital money, has successfully secured €3.3 million in a recent seed round of funding.
This investment will enable the company to expand its operations and further develop its offerings. Notable investors, including Deribit and Maven 11, have shown their support for StablR’s mission.
Since its inception in August 2022, StablR has been on a mission to enhance the stability and safety of digital money, particularly Euro-pegged stablecoins.
Over the past year, the company has minted over 10 million EurR coins. The focus of StablR is to provide a secure and transparent digital currency, and they have taken various measures to achieve this goal.
One of the key features that sets StablR apart is its commitment to transparency and security. The company maintains cash reserves to back its EurR coins and goes the extra mile by publishing these reserve details online daily through Chainlink.
Furthermore, StablR is regulated in Malta, a European country known for its progressive stance on cryptocurrency regulation.
To ensure the utmost safety, StablR keeps its funds entirely separate from the issuer and entrusts them to an Irish Trust managed by an independent asset manager.
StablR’s vision is to contribute to smoother trading and financial operations within the digital market, which has predominantly been dominated by assets tied to the US dollar.
Currently, there are less than 590 million Euro stablecoins in circulation. However, StablR believes that this number will grow, particularly with the implementation of new European regulations set to take effect in July.
These regulations are expected to provide a conducive environment for the expansion of Euro-based digital currencies, which aligns with StablR’s mission to promote stability and security in the digital financial landscape.