Stablecoin company StablR completes €3.3 million seed round financing

ChainCatcher news, stablecoin startup StablR announced the completion of a €3.3 million ($3.5 million) seed round financing to establish its euro-backed stablecoin business. Deribit, Maven 11, Theta Capital, Folkvang, and Blocktech participated in the investment.

It is reported that StablR began issuing euro-backed stablecoins, coded as EurR, on October 12, and the startup has been operating for over a year (since August 2022). StablR hopes it can bring liquidity to the DeFi and CeFi markets, ultimately bringing more users into the crypto ecosystem.