StablR
StablR is a Malta-licensed Electronic Money Institution issuing MiCA-compliant euro (EURR) and USD (USDR) stablecoins for institutional clients via an API-first platform, distributed through 20+ exchanges and strategic partners including Tether and Kraken.
- Company typePrivate
- Founded2022
- HeadquartersAmsterdam, Netherlands
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What StablR does
StablR is a Malta-licensed Electronic Money Institution that issues MiCA-compliant fiat-backed stablecoins EURR (euro-pegged) and USDR (USD-pegged) for institutional clients. Founded in 2022 and headquartered in Birkirkara, Malta, the company operates an API-first distribution platform targeting financial institutions, cryptocurrency exchanges, wallets, and payment service providers seeking regulated on/off-ramp access to stablecoins. Both tokens are deployed as ERC-20 contracts on Ethereum and Solana, with 100% of reserves held as cash and cash equivalents in segregated accounts at regulated financial institutions, and an explicit policy of geographic restriction excluding the USA and high-risk FATF countries.
The platform's core technical architecture combines Multi-Party Computation (MPC) for secure minting governance with a daily proof-of-reserve system and quarterly independent attestations performed by Grant Thornton under ISRE 2400. Revenue is generated through transaction fees on stablecoin issuance and redemption, supplemented by trading fees from exchange listings across 20+ platforms including Kraken, Bitfinex, WhiteBIT, ByBit, Phemex, AscendEX, and others. Strategic backing includes investments from Tether (via the Hadron by Tether infrastructure platform), Kraken, and Deribit, providing embedded distribution and liquidity support. The StablR Account & API platform enables qualified businesses to programmatically manage on/off-ramp transactions, whitelisted wallets, and bank account registrations with webhook notifications.
In May 2026, StablR disclosed a cybersecurity incident in which an attacker compromised a private key on the minting multisig account, resulting in approximately $13.5 million in unbacked tokens being minted and roughly $2.8 million drained. The incident caused EURR to depeg by 17-23% and USDR by approximately 30%, prompting the company to activate a Recovery Plan and freeze both tokens. The exploit exposed structural weaknesses in the multisig threshold (1-of-3) configuration and represents a material setback to the company's growth trajectory, partner confidence, and ability to generate ongoing transaction-fee revenue.
StablR firmographics
Firmographics- Name
- StablR
- Legal name
- StablR Ltd.
- Website
- https://stablr.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- StablR is a Malta-licensed Electronic Money Institution issuing MiCA-compliant euro (EURR) and USD (USDR) stablecoins for institutional clients via an API-first platform, distributed through 20+ exchanges and strategic partners including Tether and Kraken.
- Ownership category
- akta.pro rank
StablR industry classification
Industry- Product category
- Stablecoin Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Stablecoin Issuers (Fiat-Backed) (FSADADAA)
- akta.pro secondary industries
- Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Compliance, Attestations, Proof-of-Reserves & Reporting (Stablecoins) (FSADADAI), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Reserve Management, Custody & Segregated Accounts (Backing Infrastructure) (FSADADAD)
Keywords
Where StablR is headquartered
LocationHeadquarters
- HQ city
- Amsterdam
- HQ country
- Netherlands
- HQ region
- Europe
Offices1 record
Markets served
StablR business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Stablecoin Issuance and Redemption Services: StablR generates revenue through the minting (issuance) and burning (redemption) of EURR and USDR stablecoins. Qualified businesses can on-ramp and off-ramp EUR/USD to and from stablecoins. The platform facilitates 1:1 conversion between fiat and stablecoins with the spread/fee representing the primary revenue stream.
- Exchange Listing and Trading Fees: Revenue generated from trading pairs on cryptocurrency exchanges where EURR and USDR are listed, including partnerships with exchanges such as Kraken, Bitfinex, WhiteBIT, and others.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | 1:1 stablecoin conversion for institutional customers |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
StablR product offering
Product offeringCore offering
StablR issues two MiCA-compliant fiat-backed stablecoins—StablR Euro (EURR) pegged 1:1 to the euro and StablR USD (USDR) pegged 1:1 to the US dollar—available on Ethereum and Solana blockchains. The company operates an institutional StablR Account & API platform that lets qualified businesses programmatically mint, redeem, and manage stablecoin holdings, including fiat on-ramp/off-ramp, wallet whitelisting, and webhook-based transaction notifications, backed by 100% segregated fiat reserves and daily proof-of-reserves.
Product overview
StablR is a European stablecoin issuer offering two core products: StablR Euro (EURR) and StablR USD (USDR), both designed to maintain 1:1 value with their respective fiat currencies. The products are ERC-20 compatible tokens built on Ethereum and Solana blockchains, with full fiat backing held in segregated accounts at regulated financial institutions. The portfolio also includes a Proof-of-Reserve transparency service with daily updates and quarterly independent audits. The StablR Account & API platform enables institutional clients to programmatically on/off-ramp fiat to stablecoins, manage wallets, and integrate stablecoin functionality into their operations. The company operates as an EMI licensed by the Malta Financial Services Authority under MiCA regulations.
Differentiator
Problem solved
Functional benefit
Brands
- EURR: Euro-pegged stablecoin designed to maintain a 1:1 value with the Euro, issued under an ERC-20 compatible smart contract on Ethereum blockchain.
- USDR
Products and services
- StablR Euro (EURR) Euro-pegged stablecoin designed to maintain a 1:1 value with the Euro, issued under an ERC-20 compatible smart contract on the Ethereum blockchain (and on Solana), with 100% fiat backing held in segregated accounts and MiCA-compliant under EU regulation. Targeted at institutional and qualified business users seeking a regulated euro stablecoin.
- StablR USD (USDR) USD-pegged stablecoin designed to maintain a 1:1 value with the US Dollar, issued under an ERC-20 compatible smart contract on the Ethereum blockchain, fully backed by fiat reserves held in segregated accounts at regulated financial institutions, MiCA-compliant. Targeted at institutional and qualified business users.
- StablR Account & API Platform Institutional platform providing 24/7 programmatic access to convert fiat funds to/from EURR and USDR, manage whitelisted business bank accounts and institutional blockchain wallets, with REST API (OAuth 2.0) and webhook notifications for real-time transaction updates. Designed for qualified businesses, exchanges, wallets, and financial institutions integrating stablecoin capabilities.
- Proof-of-Reserve Transparency Service Transparency and verification service providing daily reserve updates and quarterly independent attestations by Grant Thornton (in accordance with ISRE 2400) confirming that EURR and USDR stablecoins are fully backed by safeguarded fiat reserves. Targeted at token holders, exchanges, and institutional counterparties requiring verifiable collateralisation.
Quantifiable outcome
- 1:1 redemption of EURR for EUR and USDR for USD at any time
- +3 more outcomes
Companies that use StablR
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
StablR technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
StablR partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered major and core.
- Zengo WalletmajorEURR and USDR made available to 1.5M+ Zengo wallet users across the globe with seedless access to MiCA-aligned euro and USD stablecoins in a self-custodial format.
- ConcordiummajorStablR brings EURR & USDR to Concordium's PayFi network to accelerate real-world payments with MiCA-aligned, fiat-backed stablecoins. Protocol-level tokens and built-in ZK identity unlock secure, compliant-ready on-chain payments.
- OobitmajorPartnership to integrate EURR and USDR stablecoins into everyday crypto Tap & Pay, advancing MiCA-compliant payment adoption across the EU. Oobit enables spending cryptocurrency at 150M+ Visa merchants globally using DePay's just-in-time atomic swap infrastructure.
- Grant ThorntoncoreIndependent auditor engaged by StablR to perform quarterly reviews of fiat-backed reserves in accordance with ISRE 2400. Assessment covers safeguarded fiat reserves and total issued supply of EURR and USDR stablecoins.
Scale indicators5 records
Recent moves6 records
Expansion highlights2 records
StablR competitors and assessment
Company assessmentBroad incumbents
- Tether: Issuer of USDT and EURT, the dominant fiat-backed stablecoins globally. Directly comparable as a fiat-backed stablecoin issuer and is also a strategic investor in StablR, making it both a parent-like infrastructure provider and a competing issuer (especially via EURT in Europe).
- PayPal: Issuer of PYUSD, a USD stablecoin launched via Paxos. Comparable as a mainstream, regulated USD stablecoin issuer leveraging a large consumer/payments platform; PYUSD is a competitive alternative to USDR for institutional and merchant integrations.
Direct peers
- Circle: Issuer of USDC and EURC, the largest regulated USD and euro stablecoins. Directly comparable to StablR as a regulated, fully reserved stablecoin issuer serving institutions, with overlapping product (EURC vs. EURR) and overlap on MiCA compliance efforts in the EU.
- Paxos: Regulated issuer of PAXG, USDP, and PYUSD; comparable to StablR as a NYDFS-/EU-style regulated stablecoin issuer serving institutional and enterprise clients with API-based minting and redemption infrastructure.
- Monerium: Icelandic/European e-money institution issuing EURe, a regulated euro on-chain token. Comparable as a MiCA-aligned euro stablecoin targeting EU banks and institutions with full fiat backing and segregation — a direct competitor to EURR.
- Quantoz Payments: Dutch issuer of EURQ and USDQ under MiCA via the DNB. Comparable as a regulated, fully reserved EUR/USD stablecoin issuer with an institutional API and payments-rail positioning — direct overlap with StablR's product and licensing model.
- Stasis: Issuer of EURS, a euro-backed stablecoin on Ethereum. Comparable as an early euro stablecoin issuer with full reserve backing and traditional finance custody; competes for the same EU institutional and exchange-listing demand as EURR.
Emerging players
- Sky (formerly MakerDAO): Issuer of DAI and USDS, crypto-backed and increasingly RWA-backed stablecoins. Comparable as a competing on-chain dollar/euro-pegged unit-of-account, with overlap on Ethereum smart-contract-based issuance, though Sky's collateral model and decentralization profile differ materially.
- M^0: Web3 stablecoin infrastructure provider enabling whitelisted issuers to mint and manage regulated stablecoins. Comparable as enabling minting infrastructure and governance frameworks that overlap with StablR's MPC-based issuance and reserve management approach.
- Ondo Finance: Issuer of tokenized US Treasuries and USDY/USDe yield-bearing stablecoins. Comparable as a regulated, institutional-grade tokenized dollar product competing for the same institutional float, though Ondo's products are yield/treasury-focused rather than payment-pegged.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
StablR social profiles
Digital presenceStablR compliance and trust
Trust signalCompliance4 records
StablR financial estimates
Financial estimateRevenue estimate
Valuation estimate
StablR leadership team
Management profileNumber of profiles
Profiles4 records
StablR funding detail
Funding detailFunding overview
Funding rounds3 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
StablR M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about StablR
What does StablR do?
StablR issues two MiCA-compliant fiat-backed stablecoins—StablR Euro (EURR) pegged 1:1 to the euro and StablR USD (USDR) pegged 1:1 to the US dollar—available on Ethereum and Solana blockchains. The company operates an institutional StablR Account & API platform that lets qualified businesses programmatically mint, redeem, and manage stablecoin holdings, including fiat on-ramp/off-ramp, wallet whitelisting, and webhook-based transaction notifications, backed by 100% segregated fiat reserves and daily proof-of-reserves.
Is StablR a public or private company?
StablR is a private company. It is classified as venture growth investor backed and is currently operating.
When was StablR founded?
StablR was founded in 2022. It employs 11 to 50 people.
Where is StablR based?
StablR is headquartered in Amsterdam, Netherlands, in the Europe region.
How does StablR make money?
Two revenue lines are on record. Stablecoin Issuance and Redemption Services are the primary driver. The others are exchange Listing and Trading Fees.
Who are StablR's main competitors?
Broad incumbents on record are Tether and PayPal. Direct peers are Circle, Paxos, Monerium, Quantoz Payments and Stasis. Emerging players are Sky (formerly MakerDAO), M^0 and Ondo Finance.
Does StablR have an API?
Yes. StablR provides a REST API for programmatically managing stablecoin operations including buying/selling EURR and USDR, managing wallets, and handling bank account registrations. The API supports OAuth 2.0 client credentials authentication with time-bound Access Tokens (5-minute expiry). It enables on/off-ramping fiat money to/from EURR or USDR, whitelisting institutional wallets, and registering business bank accounts. Webhook notifications are available for real-time updates on wallet statuses, deposit orders, and withdrawal orders. Developer documentation is at docs.stablr.com.
What industry is StablR in?
StablR's product category is Stablecoin Infrastructure. Its primary akta.pro industry code is FSADADAA, Stablecoin Issuers (Fiat-Backed), with a secondary code of FSADADAE, Mint/Redeem, Issuance APIs & Treasury Operations Platforms. Its NAICS code is 522320 and its SIC code is 6200.