The euro-backed stablecoin is now live
SAN FRANCISCO, Nov. 29, 2023 /PRNewswire/ — STASIS, a trailblazer in issuing euro-backed stablecoins and the company behind EURS, has recently achieved a significant milestone by integrating with the Stellar blockchain. This integration brings a new digital version of the second-most widely used currency in the world to the Stellar network, broadening access to transparent and reliable euro-denominated stablecoins.
The Stellar network stands out as a blockchain designed for facilitating efficient, low-cost, and fast payments. Its decentralized protocol enables seamless transactions, connecting individuals, institutions, and payment systems globally. However, one of the significant challenges in traditional cryptocurrency transactions, especially for daily use, is volatility. The reliability and consistency of stablecoins make them highly valuable for everyday transactions and a critical component in the realm of payments. The introduction of STASIS EURO or EURS to the Stellar network is a timely response to this need, offering a market-tested and dependable option amidst the market’s ups and downs not only to Eurozone clients but globally.
In a world where understanding the intricacies of cryptocurrency remains a challenge for many, the existence of a transparent and trusted stablecoin like EURS is a game-changer.
By 2023, STASIS-issued EURS had firmly established itself as a leading asset in the euro stablecoin segment with over a 5-year track record of success, catering to a wide range of users, including businesses, traders, merchants, and more. Its distinct qualities, backed by the trust of multiple international partners and a global clientele from 175 countries, make EURS a superior choice in the stablecoin market.
STASIS’ prior commitment to multi-chain development led to the integration with Stellar, renowned for its quick transaction processing, low fees, and scalability. This initiative not only expands the user base for EURS but provides the Stellar ecosystem access to one of the most prominent EURO stablecoins that can be leveraged in the Stellar network’s ever growing real-world use cases.
STASIS EURO is a compliant and regulated euro stablecoin and one of the largest on the market, with over 6B euros transferred on-chain across multiple major blockchains. All EURS assets are backed on a 1:1 basis with liquid euro balances, and reserves are held at the Lithuanian Central Bank.
Businesses and developers can leverage the global euro digital currency with the speed, affordability, and reliability of the Stellar network. EURS can be sent, spent, held, and traded around the globe 24/7, with low-cost, near-instant transactions.
Denelle Dixon, the CEO and Executive Director at Stellar Development Foundation, noted: “Stablecoins serve as pivotal bridges for global financial inclusivity. The Stellar network, designed specifically for seamless payments, welcomes EURS, one of the largest Euro stablecoins. This integration marks a significant milestone, empowering builders on the network with expanded options, accelerating innovation, and fostering greater accessibility in the world of finance.”
Gregory Klumov, the CEO of STASIS, commented on this advancement: “The collaboration with the Stellar network has endowed EURS with new robust functionalities and introduced it to a new global crypto community. This expansion is a testament to our commitment towards promoting transparency and inclusivity in financial services within the Web3 ecosystem.”
The Stellar Network
The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions operations with millions of accounts since the network was first launched.
To learn more about the Stellar network and The Stellar Development Foundation’s mission, check out the links below:
Website I X I LinkedIn I Discord
STASIS/EURS
STASIS is a European financial technology firm that develops customer-friendly instruments to enable institutional and retail customers to manage digital currencies and public blockchains for payments and settlements, e-commerce, and DeFi. The company issues and manages EURS, a legal euro stablecoin, accessible in 175 countries and audited by BDO, one of the most renowned auditors in the world.
The EURS Network is a comprehensive ecosystem uniting regulated digital asset players and empowering users with a comprehensive suite of digital tools to manage stablecoins. This interconnected network serves as a hub that streamlines 24/7 crypto-fiat exchanges, enhancing EURS usability.
To learn more about STASIS, EURS, and its Network, check out the links below:
Website I X I LinkedIn I Discord I Telegram I Medium
SOURCE The Stellar Development Foundation
