Share this article
Tether to Shutter Euro Stablecoin as Key MiCA Deadline Looms
The firm's decision comes as crypto companies in the EU prepare to comply with region-wide digital asset rules by the end of this year..
Updated Nov 27, 2024, 2:59 p.m. Published Nov 27, 2024, 2:49 p.m.
What to know:
- Tether said it will phase out its euro stablecoin, EURT. Users will be able to redeem tokens for up until one year from now.
- Instead, the company will focus on backing new stablecoin ventures such as its recent investment in Quantoz and its tokenization platform Hadron.
Stablecoin issuing giant Tether is closing down its euro stablecoin, EURT.
"After careful consideration, we have made the decision to discontinue support for EUR₮," the firm said in a press release on Wednesday. Users will be able to redeem tokens until Nov. 27, 2025, the post added.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The decision comes as digital asset businesses operating in the EU are in crunch time before region-wide regulations, known as MiCA, enter into full force by the end of this year.
MiCA requires stablecoin issuers to get compliant or potentially retreat from the market of 450 million consumers. Tether CEO Paolo Ardoino has been a vocal critic of the new rules and the company has not obtained the necessary Electronic Money Institution (EMI) license to operate in the EU. Meanwhile, rival issuer Circle, the company behind the $36 billion market cap USDC, said it fulfilled the requirements to operate in the region.
EURT didn't attract considerable demand in the euro stablecoin market. It only has a $27 million market capitalization, per CoinGecko data, lagging behind Circle's EURC $90 million and Stasis Euro's $130 million. In comparison, Tether's flagship stablecoin USDT has a $132 billion market capitalization.
Tether recently invested in Netherlands-based stablecoin issuer Quantoz and also launched a tokenization platform, Hadron, that aims to support smaller, MiCA-compliant stablecoin companies to issue tokens.
"At this time we will be focusing our support on new ventures such as the launch of Quantoz Payments’ revolutionary MiCAR-compliant stablecoins, EURQ, and USDQ which will be powered by Tether’s advanced technology solution, Hadron by Tether," the firm said in a statement.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Nexo Agrees to Buy Argentina’s Buenbit to Expand Crypto Services Across Latin America
The deal gives Nexo access to Buenbit's user base and enables it to offer crypto-backed loans, high-yield savings accounts and trading tools.
What to know:
- Nexo agreed to buy Argentina-based Buenbit, expanding the Swiss company's presence in Latin America and gaining regulatory approval to operate in the country.
- The deal gives Nexo access to Buenbit's user base and enables it to offer crypto-backed loans, high-yield savings accounts and trading tools.
- Buenos Aires will be Nexo's Latin American headquarters, with plans to grow into Mexico and Peru.
Top Stories
