StablR is a European financial technology company that issues regulated, fiat-backed stablecoins known as E-Money Tokens (EMTs). ^{[1] [2]} The company’s primary products are the StablR Euro (EURR), pegged 1:1 to the Euro, and the StablR USD (USDR), pegged 1:1 to the U.S. Dollar. Operating as a licensed Electronic Money Institution (EMI) in Malta, StablR positions its products as compliant with the European Union's Markets in Crypto-Assets (MiCA) regulation. ^{[3] [4]}​

Overview

StablR was established to bridge traditional finance (TradFi) and decentralized finance (DeFi) by providing a transparent, regulated, and stable digital currency. The project’s core offerings, EURR and USDR, are fully collateralized stablecoins, backed 100% by reserves of cash and cash equivalents, such as short-term government bonds. These reserves are held in segregated accounts at commercial banks within the European Union, separate from the company's operational funds to protect customer assets in case of insolvency. ^{[5] [2]}​

The company's business model primarily targets institutional clients, including market makers, cryptocurrency exchanges, brokers, and asset managers, providing them with a compliant on-ramp and off-ramp for fiat currencies. The project emphasizes transparency, offering daily proof-of-reserve attestations on its website and undergoing quarterly reserve audits conducted by the independent firm Grant Thornton. ^[3] StablR’s stablecoins are multi-chain assets, available on blockchains such as Ethereum, Solana, and Concordium, designed to facilitate secure, low-cost global transactions 24/7. ^[1]​

StablR’s CEO, Gijs op de Weegh, has articulated a vision for stablecoins that includes enhancing financial inclusion. In a November 2025 webinar, he stated, “There’s a great opportunity to reach out to the unbanked, to let them take part in the financial system.” ^[6]​

History and Development

The development of StablR's infrastructure began in early 2022, with a focus on cloud architecture, compliance systems, and on-ramp/off-ramp services. In June 2022, the parent company, Plutus B.V., was founded by investors to manage initial legal and technical procedures. The issuer entity, StablR Ltd., was officially registered in Malta on December 23, 2022. ^[2]​

Throughout 2023, StablR achieved several key milestones. The ERC-20 smart contract for EURR was deployed on the Ethereum mainnet in the first half of the year. On June 5, 2023, the Malta Financial Services Authority (MFSA) formally authorized the StablR Euro (EURR) whitepaper under the existing Virtual Financial Assets Act (VFAA). The first EURR tokens were minted for customers in October 2023, and on December 1, 2023, the company formally applied for its Electronic Money Institution (EMI) license with the MFSA. The EURR token officially launched for public trading on October 12, 2023, with an initial mint of 10 million tokens. ^{[7] [4]}​

The company secured an additional €1.8 million in funding in March 2024, bringing its total raised capital to €6.0 million at that time. A major regulatory achievement occurred on June 21, 2024, when the MFSA granted StablR Ltd. its EMI license. Subsequently, the company expanded its multi-chain support, deploying a Solana smart contract for EURR between July and September 2024. The USDR token was launched on December 6, 2024, and the first USDR tokens were minted for customers on January 8, 2025. ^{[8] [1]}​

In 2025, StablR continued its expansion and integration efforts. The company announced the availability of EURR and USDR in the Zengo Wallet on March 26, 2025, and a partnership with crypto payment platform Oobit on May 27, 2025. A significant development occurred on July 21, 2025, when cryptocurrency exchange Kraken made a strategic investment in StablR. The company further expanded by launching its tokens on the Concordium blockchain's PayFi network in September 2025. By October 2025, the parent company Plutus B.V. had raised a total of €11.0 million to finance operations and platform development. ^{[9] [2]}​

Corporate and Legal Structure

StablR operates through a multi-entity corporate structure designed to separate functions like fundraising, technology development, and regulated token issuance. ^[1]

• Plutus B.V.: Based in the Netherlands, this is the 100% parent company responsible for attracting investment and providing capital to its subsidiaries.
• StablR Ltd.: The primary issuing entity, registered as a Limited Liability Company in Malta (Company No: C 104007). It holds the EMI license from the MFSA and is responsible for all token issuance, governance, reserve management, and regulatory compliance.
• STB Software Development B.V.: A Netherlands-based entity that owns the intellectual property related to the IT platform and software used by StablR.

This structure is intended to insulate the regulated activities and customer funds held by StablR Ltd. from the broader corporate group's financial activities. ^[2]

Regulation and Compliance

Regulatory compliance is a central tenet of StablR's strategy. The company is authorized and supervised by the Malta Financial Services Authority (MFSA) as an Electronic Money Institution. This license operates under the framework of the European Union's MiCA regulation, which establishes rules for crypto-asset service providers. ^{[3] [1]}​

Key aspects of its compliance framework include:

• Fund Safeguarding: All fiat reserves backing the stablecoins are held in segregated client fund accounts at regulated credit institutions. This ensures they are legally separated from StablR's operational funds and protected from company creditors.
• Capital Adequacy: As a licensed EMI, StablR must maintain its own funds equivalent to at least 2% of the average outstanding value of its EMTs, with a minimum capital floor of €350,000.
• Redemption Rights: StablR guarantees that all token holders have a right to redeem their EURR or USDR at any time at par value (1:1) directly from the issuer, subject to completing the required Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) onboarding checks. The company does not charge fees for redemption.
• AML/CFT Procedures: The company has implemented comprehensive AML/CFT policies in line with guidelines from Malta's Financial Intelligence Analysis Unit (FIAU), which include customer due diligence and transaction monitoring.
• Recovery and Redemption Plans: As required by MiCA, StablR maintains regulatory-approved plans for handling financial distress (Recovery Plan) and for ensuring an orderly wind-down and redemption process if it ceases operations (Redemption Plan).

The company’s whitepapers explicitly state that its E-Money Tokens are not covered by investor compensation schemes (Directive 97/9/EC) or deposit guarantee schemes (Directive 2014/49/EU). ^[2]​

Technology and Security

StablR’s platform is built on modern cloud infrastructure and employs multiple layers of security to protect its operations and customer assets. ^[4]​

Reserve and Backing Mechanism

Both EURR and USDR are 100% backed by a reserve of assets. These reserves consist of fiat currency held in cash and "secure, low-risk, and highly liquid assets" such as short-term government bonds. ^{[5] [7]} To ensure transparency, StablR provides a Proof of Reserve page on its website with daily updates on the total supply of tokens versus the total value of reserve assets. This process includes quarterly independent attestation reports from Grant Thornton, which adhere to the International Standard on Review Engagements (ISRE 2400). ^[3] StablR also partners with Chainlink's oracle network to deliver an on-chain Proof of Reserve feed. ^[4]​

Minting and Redemption

Access to direct minting (on-ramping) and redemption (off-ramping) is available to institutional and professional clients who complete StablR's know-your-business (KYB) and AML/CFT vetting process. ^[8]​

• Minting: A verified client transfers fiat currency to StablR's segregated bank account. Upon confirmation, StablR mints an equivalent amount of stablecoin tokens and sends them to the client's designated blockchain wallet.
• Redemption: A client sends stablecoins to a StablR-controlled address. StablR then burns the tokens and initiates a wire transfer of the equivalent fiat currency to the client's verified bank account. Redemptions are processed within 24 hours. ^[2]

Platform Architecture and Security

StablR’s technology stack is hosted on Amazon Web Services (AWS), with primary servers in Ireland and disaster recovery replication in Frankfurt. The platform is built using a serverless architecture with technologies like AWS Lambda and ReactJS. ^[4]​

To secure its minting, burning, and governance operations, StablR uses a combination of Multi-Party Computation (MPC) and Multisig technologies. It partners with institutional-grade custody providers like Fireblocks to manage private keys, preventing a single point of failure. The smart contracts for its tokens have been audited by external firms, including CertiK. ^{[9] [7]}​

A security warning for the EURR and USDR contracts has been noted by GoPlus Labs on CoinGecko, indicating they are proxy contracts. This design means the contract owner can make code changes, such as disabling sales, changing fees, or minting new tokens. While this enables upgrades and regulatory compliance actions, it also represents a degree of centralized control. ^{[10] [11]}​

Stablecoins

StablR Euro (EURR)

StablR Euro (EURR) is an ERC-20 token pegged 1:1 to the Euro. As of December 2025, it is a multi-chain asset supported on Ethereum, Solana, and Concordium. ^[2] It is traded on numerous exchanges, including Kraken, Bitfinex, and ByBit, with pairs against fiat (EUR, USD) and other cryptocurrencies (USDT, BTC). ^[7]​

• Ethereum Contract: 0x50753cfaf86c094925bf976f218d043f8791e408
• Solana Contract: HViRSvsTpwubWHevjSPxNB22Fg3kdzXtedfQXmMoHtoZ

The token has experienced periods of price volatility relative to its peg. On February 16, 2025, EURR recorded an all-time high of 1.01, as valued in USD. ^[10]​

StablR USD (USDR)

StablR USD (USDR) is an ERC-20 token pegged 1:1 to the US Dollar. It is available on the Ethereum network and listed on exchanges such as Kraken, Bitfinex, and UZX. ^{[9] [8]}​

• Ethereum Contract: 0x7b43e3875440b44613dc3bc08e7763e6da63c8f8

USDR also experienced minor de-pegging events. It reached an all-time high of 0.8773 on March 10, 2025. ^[11]​

Key People

StablR's leadership team is composed of individuals with backgrounds in FinTech, payments, banking, and technology. ^[1]​

Executive Team:

• Gijs op de Weegh: Founder and Chief Executive Officer (CEO)
• Corne van der Meijden: Chief Risk & Operations Officer (CROO)
• Robin Nijkamp: Chief Technology Officer (CTO)
• Julia Frendo: Chief Financial Officer (CFO)
• Adam Csanyi: Chief Compliance Officer (CCO)

Board of Directors (StablR Ltd.):

• Benjamin Whitby: Chairman, Independent Non-Executive Director
• Christine Bezzina: Non-Executive Director

Sustainability

StablR operates on blockchains that utilize a Proof-of-Stake (PoS) consensus mechanism, which is noted for its energy efficiency compared to Proof-of-Work systems. The company's whitepaper includes sustainability disclosures based on data from the Crypto Carbon Ratings Institute (CCRI). For the period of January 2024 to September 2025, the total energy consumption attributed to EURR transactions was primarily from the Ethereum network, totaling 30.448 kWh, with an average of 0.009 kWh per transaction. The associated greenhouse gas emissions for the same period were reported as 0.0093 tonnes of CO2 equivalent. ^[2]​