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StablR Euro (EURR)
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StablR Euro (EURR)
StablR Euro (EURR) is a Euro-pegged stablecoin designed to maintain a 1:1 value with the Euro. Issued by the Malta-based StablR Limited, it functions as a regulated Electronic Money Token (EMT) under the European Union's Markets in Crypto-Assets (MiCAR) framework. The token is available on multiple blockchains, including Ethereum, Solana, and Concordium, and is fully collateralized by reserves of cash and cash equivalents. [1] [2]
Overview
StablR Euro (EURR) was developed to provide a stable, secure, and regulated digital alternative to the Euro for use in global payments, decentralized finance (DeFi), and as a store of value. The project emphasizes transparency and regulatory compliance, operating under the authorization of the Malta Financial Services Authority (MFSA). Each EURR token is designed to be redeemable at par value for one Euro directly from the issuer. [1] [3]
The stablecoin is backed 100% by a reserve of assets consisting of cash and cash equivalents. These reserves are held in segregated accounts at credit institutions and are subject to daily public attestations and quarterly reviews by the external auditing firm Grant Thornton. This model is intended to ensure the stability and reliability of the token's peg. The target audience for EURR primarily consists of professional and business-to-business (B2B) partners, such as market makers, exchanges, brokers, and asset managers. [1] [2]
StablR also offers a US Dollar-pegged stablecoin, StablR USD (USDR), and provides a developer API to facilitate the integration of both EURR and USDR into financial applications. This enables programmatic buying, selling, and management of the stablecoins. [3]
History and Development
The development of the StablR project's core infrastructure began in early 2022. The parent company, Plutus B.V., was founded in the Netherlands in June 2022 to provide funding for the project. StablR Ltd., the issuing entity, was officially registered as a limited liability company in Malta on December 23, 2022. The development of the ERC-20 smart contract was finalized in late 2022 following an audit and testing phase. [1]
On June 5, 2023, the Malta Financial Services Authority (MFSA) formally authorized the StablR Euro whitepaper under the Virtual Financial Assets Act (VFAA). Following this authorization, StablR launched the EURR token on the Ethereum blockchain on October 12, 2023, minting an initial supply of 10 million tokens. The first EURR tokens were minted for customers in October 2023, and by November 2023, the circulating supply had grown to approximately 11 million. [1] [4]
On December 1, 2023, StablR Ltd. applied for an Electronic Money Institution (EMI) license with the MFSA, which was subsequently granted on June 30, 2024, bringing the project fully under the MiCAR regulatory framework. The project expanded its multi-chain presence by deploying on the Solana blockchain in the third quarter of 2024 and on the Concordium blockchain in the third quarter of 2025. In July 2025, the cryptocurrency exchange Kraken announced an investment in StablR to support global stablecoin adoption. [1] [5]
Corporate Structure and Leadership
The StablR project is operated through a multi-entity structure: [1]
- Plutus B.V.: The Netherlands-based parent company responsible for funding the project. Its directors are Gijs op de Weegh and Corné van der Meijden. As of October 2025, Plutus B.V. had raised €11.0 million.
- StablR Ltd.: The Malta-based issuer of EURR, registered with a Legal Entity Identifier (LEI) of 984500AA0OCA9CE0D796. It is licensed by the MFSA and responsible for the project's legal and policy frameworks.
- STB Software Development B.V.: The Netherlands-based technology owner, responsible for the IT platform and software.
The leadership team comprises individuals with backgrounds in FinTech, payments, and regulatory affairs. Gijs op de Weegh serves as the CEO of StablR and is a director at both parent companies. He has over two decades of experience in the FinTech and payments industries. [4] [6]
Key leadership roles are held by: [1]
- Gijs op de Weegh: Chief Executive Officer (CEO)
- Corné van der Meijden: Chief Risk & Operations Officer (CROO)
- Robin Nijkamp: Chief Technology Officer (CTO)
- Julia Frendo: Chief Financial Officer (CFO)
The Board of Directors of StablR Ltd. includes Benjamin Whitby (Chairman), Christine Bezzina, Gijs op de Weegh, Corne van der Meijden, and Julia Frendo. The project's external financial auditor is Grant Thornton Malta. [1]
Technology and Infrastructure
Blockchain and Token Standards
EURR is a multi-chain stablecoin deployed on several blockchains that utilize a Proof-of-Stake (PoS) consensus mechanism. [1]
-
Ethereum: Deployed as an ERC-20 compatible token.
-
Solana: Deployed as an SPL token.
-
Concordium: Deployed as a Protocol-Level Token (PLT).
- DTI: BRDX36NVH [1]
Reserve and Collateralization
Every EURR token in circulation is 100% backed by a corresponding amount of Euro-denominated assets. These reserves are composed of cash and cash equivalents held in segregated accounts at regulated credit institutions. This structure is designed to isolate the reserve assets from the issuer's operational funds and ensure that holders can redeem their tokens at a 1:1 ratio. StablR publishes daily attestations of its reserves on its website and undergoes quarterly reviews by Grant Thornton to provide transparency into its collateralization. [1] [2]
As of December 11, 2025, the total supply of EURR was 11,727,395, while total reserves were €11,800,725, indicating a slight over-collateralization. [5]
Minting, Redemption, and Security
EURR tokens are minted (issued) and burned (redeemed) exclusively through the StablR platform. Qualified institutions undergo a Know Your Business (KYB) onboarding process to gain access to an account for on-ramping and off-ramping Euros in exchange for EURR. StablR does not charge fees for minting or redemption. [3] [1]
To secure the minting and burning functions, StablR employs a combination of Multi-Party Computation (MPC) and Multisig technologies. The primary custody solution for Ethereum and Solana operations is Fireblocks, an institutional-grade MPC wallet platform that protects private keys from single points of failure. The original ERC-20 smart contract was audited by CertiK, and subsequent upgrades undergo external code reviews. [1] [4]
Platform Architecture
The StablR platform is built on a cloud-native, microservices-based architecture hosted on Amazon Web Services (AWS). The main server is located in Ireland, with a real-time replica in Frankfurt, Germany, for disaster recovery. The technology stack includes ReactJS, Amazon Cognito, API Gateway, Lambda Functions, and a PostgreSQL relational database. DevOps processes utilize Terraform for Infrastructure as Code (IaC) and GitLab for CI/CD pipelines. [1]
Regulation and Compliance
StablR Euro is regulated as an Electronic Money Token (EMT) under MiCAR, a comprehensive regulatory framework for crypto-assets in the European Union. StablR Ltd. is authorized as an E-money institution by the Malta Financial Services Authority (MFSA), the country's single regulator for financial services. This regulatory status mandates strict rules regarding reserve management, governance, and consumer protection. [1] [3]
Under MiCAR, holders of EURR have a legally enforceable right to redeem their tokens for Euros at par value at any time. StablR processes redemption requests from onboarded customers within 24 hours. The whitepaper clarifies that EURR is not covered by the investor compensation schemes or deposit guarantee schemes that protect traditional bank deposits. [1]
The company has implemented comprehensive Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) policies, in line with guidelines from Malta's Financial Intelligence Analysis Unit (FIAU). The issuer has undergone several external audits, including an ISAE 3000 Type 1 systems audit in 2023, an AML/CFT audit in 2024, and a thematic review of its cybersecurity practices under the Digital Operational Resilience Act (DORA) in 2025. [1]
Market and Adoption
Financials and Supply
StablR's business model relies on the interest earned from the fiat and fiat-equivalent assets held in its reserve, rather than charging transaction fees to its users. As of November 11, 2025, the market capitalization of EURR was reported to be €11,984,895. CoinMarketCap data from December 13, 2025, showed a market capitalization of approximately $13.8 million, with a circulating supply of 11,883,542 EURR. The total supply of EURR is elastic and not capped, designed to adjust based on market demand. [1] [4]
Exchange Listings and Partnerships
EURR is available for trading on a number of centralized cryptocurrency exchanges. Notable listings include:
StablR has also formed several key partnerships to enhance adoption. In May 2025, it announced a collaboration with crypto payments provider Oobit. In September 2025, StablR partnered with Concordium to bring its EURR and USDR stablecoins to Concordium's PayFi network. [2] [5]
Wallet Support
As a multi-chain token, EURR is compatible with a wide range of wallets. On Ethereum, it can be stored in any ERC-20 compatible wallet, such as MetaMask, Trust Wallet, and Ledger. It has also been integrated into self-custodial wallets like Zengo. For operations on Concordium, the Concordium Browser Wallet is used. [4] [1]
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