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St. Julians, Malta–(Newsfile Corp. – July 20, 2022) – STASIS, a crypto-enabler platform bridging the gap between the Web2 and Web3 realms, finds EURS to be a superior multi-chain asset after facilitating a study on the EUR-backed stablecoins. STASIS is the issuer of the largest euro-backed stablecoin – EURS – which now successfully competes with the biggest euro-denominated staking pools in the DeFi corner of the crypto market. Its multi-chain infrastructure is live on Ethereum, Algorand and Polygon with several other blockchains (Ripple, XDC) in development.
STASIS research
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The State of the Current Euro Digital Asset Market
The latest in-depth analysis of the euro digital asset market made by the STASIS team indicated that there are 5 algorithmic and 6 asset-backed stablecoins active on the scene. All currently available EURO stablecoins’ characteristics (16) have been analyzed; below is a brief summary of the acquired results:
- 2 out of 6 asset-backed stablecoins comply with the Big4 audit;
- 2 out of 6 asset-backed stablecoins provide an onboarding API;
- 3 out of 5 asset-backed stablecoins serve acquisition and payout via Mastercard or Visa;
- 3 out of 6 asset-backed stablecoins are EU-based issuers;
- 8 out of 11 analyzed stablecoins provide a non-custodial client account.
The research has shown that algorithmic EURO stablecoins provide a significantly lower rate of correspondence of analyzed characteristics. In contrast, asset-backed stablecoins have shown more promising results in terms of functionality and reputation.
“The STASIS team has been focused on crafting a world-class product that has no boundaries or limitations of usage for the EU zone and beyond,” said Gregory Klumov, CEO of STASIS.
STASIS Has Chosen a Long-Term Approach to Offer Sustainable EURO Stablecoins
The research that focused on EU regulations and procedures unlocked an opportunity for STASIS not only to create an all-rounded euro-backed digital asset but also to help regulators climb the learning curve in the digital asset field.
The STASIS team consulted several government agencies in Europe and even issued a book on crypto regulation in 2018 with an updated 2nd version following in 2019. Also, STASIS was a part of the International Association for Trusted Blockchain Applications expert group and assisted in creating the EU crypto-regulation frameworks.
As a result of the extensive research work, the EURS coin of STASIS meets all indispensable characteristics of the stable and reliable euro-backed digital asset, suitable for the needs of the general public. Currently, EURS provides 16 main functionalities that include features such as:
- Exempt from the USA financial system risks;
- Complying with the Big4 audit;
- Providing an onboarding API;
- Account of European Central Bank;
- Providing instant SEPA transfers;
- SEPA and SWIFT network;
- Allowing delegated payments on the Ethereum network.
Since its inception in 2017, STASIS has functioned as a transparent and institutional-friendly part of the European blockchain ecosystem through the strategic intersection of licensed financial intermediaries and distributed ledger technology. Its flexibility allows bypassing inefficiencies of single-layer solutions. The euro-backed digital asset unleashes the full potential of distributed ledger technologies with the blockchain’s transparency, immutability, and efficiency – which is now recognized by both the general public and institutional clients.
“EURS is increasingly used across a growing range of DeFi and CeFi services because its need, as a product, has become more and more obvious over the years. It’s still euro, just a crypto version – a digital asset built on top of the DLT that allows you to safely dive into the cryptocurrency realm. Stablecoins could be really helpful for big corporations that operate in multiple jurisdictions and want to transfer value,” outlined Gregory Klumov, CEO of STASIS.
Asset-backed stablecoins such as EURS minimize the risks of ever-fluctuating highly volatile cryptocurrencies and hold benefits that are missing from the algorithmic coins, such as instant SEPA transfers and compliance with globally approved and trusted audit partners. The ultimate solution provided by STASIS EURS is a harmonized pathway toward mass usage of digital assets disrupting the European financial market.
-ENDS-
About STASIS
STASIS provides a bridge from Web2.0 to Web3.0 financial services, and pioneers in the commercialization of stablecoin use cases: acquiring, DeFi lending, remittance, and white-label corporate settlement. It aggregates solutions from licensed financial intermediaries to provide an institutional-grade link between the decentralized finance world and the off-chain market. The main product of STASIS is the largest non-USD stablecoin EURS with multi chain infrastructure live on Ethereum, Algorand and Polygon with several other blockchains (Ripple, XDC) in development.
https://eurs.stasis.net/
https://twitter.com/stasisnet
For further media queries, please contact:
Gregory Klumov
CEO
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131406
