Place/Date: Singapore - December 12th, 2022 at 4:59 pm UTC · 4 min read
STASIS, the issuer of the largest euro-backed stablecoin, has deployed its EURS stablecoin on XDC Network, enabling the XDC community to advance their crypto journey into stablecoins.
Turbulence is a familiar feeling to dwellers in the crypto realm. In a record-breaking bear market, even trusted companies lose crowns and go bankrupt, while stablecoins and ecosystems can fail in the blink of an eye. Recent events have only strengthened the need for transparent solutions that keep users as risk-free as possible.
Given that the global user base has just started climbing their learning curve in understanding the risks behind cryptocurrency products, many stablecoin companies have tried to penetrate the market with various models, struggling to achieve notable adoption. If you’re up for a crypto journey, start not only with trusted, but transparent solutions.
By 2022, the STASIS-issued EURS has cemented its place as the most reliable asset in the euro stablecoin segment and even beyond for users, businesses, traders, merchants and pretty much everyone else involved in the cryptocurrency domain.
The combination of specific qualities makes the STASIS-issued stablecoin stand out from the crowd. The deep research conducted by the project team clearly shows why EURS is a superior multichain asset after facilitating a study on the euro stablecoins.
Being focused on multichain development, the STASIS team was happy to upgrade EURS with the features of a new blockchain that offers enhanced transaction time, fewer fees and better scalability. This continuing initiative boosts the EURS userbase, and the team is pleased to elevate XDC community’s trust in stablecoins with the introduction of the first euro stablecoin on the network.
STASIS CEO Gregory Klumov said:
“With the help of XDC, EURS gained support of new powerful tools and a new global community and enterprise participants. By now, we have enforced our brand sufficiently to see the need for our stablecoin become apparent in world markets. More companies are realizing the importance of transparency, and this is a confirmation that we are doing our job right — educating the cryptocurrency community and improving the financial inclusion within Web3.”
The XDC Network is an enterprise-grade, EVM-compatible Layer 1 network equipped with interoperable smart contracts. A highly optimized, bespoke fork of Ethereum, the XDC Network reaches consensus through a delegated proof-of-stake (XDPoS) mechanism, which allows for two-second transaction time, near zero gas fees, and over 2,000 transactions per second (TPS).
Secure, scalable, and highly efficient, the XDC Network powers a wide range of novel blockchain use cases.
XinFin the creators of the XDC Network was founded in 2017, whereas XDC Foundation was formed in 2021 to support the growth, development and adoption of the XDC Network by collaborating with an informed and active community of developers, world trade experts, and content creators. XDC Network is designed to support those who utilize blockchain technology to more efficiently store and exchange data, assets, and ideas.
STASIS is a European financial technology company that provides a bridge from Web2.0 to Web 3.0 financial services and is a pioneer in the commercialization of stablecoin use cases. The team 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.
Since its inception in 2017, it has functioned as the most transparent and institutional-friendly part of the European blockchain ecosystem through the strategic intersection of licensed financial intermediaries and distributed ledger technology. The Malta-based startup has rightfully gained the trust of traditional and conservative regulated institutions.
The STASIS team built an app that allows customers to pay, earn and run digital asset treasuries globally and stay compliant with a traditional financial system. The institutional grade infrastructure is based on and connected to the leading banking (BankFrick), capital markets (Exante), data compliance (Chainalysis, Elliptic), and custody (PrimeTrust, BitGo) service providers.
STASIS is the issuer of the largest non-USD stablecoin EURS with $6B+ of transferred value. EURS successfully competes in the DeFi corner with the biggest euro-denominated staking pools. Currently, EURS is the largest stablecoin pegged to the world’s second most-traded currency and ranks as a top-10 stablecoin globally, accumulating tens of thousands of users in its global communities.
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