To further shape the vision of a multi-chain stablecoin, STASIS integrates the XRP Ledger.
STASIS, the issuer of the largest euro-backed stablecoin, has completed XRP Ledger integration for its flagship EURS stablecoin, enabling another powerful stream for the global digital asset economy. XRP Ledger, created in collaboration with the XRPL community, the XRPL Foundation, and Ripple, a leading provider of enterprise blockchain and cross-border payment cryptographic solutions, will reopen the box of stablecoin use cases.
EURS will have established itself as the most trusted asset in the euro stablecoin segment, which has seen very few competitive fintech products, by 2022. Given that the global user base has only recently begun to climb the learning curve in understanding the risks associated with these products, many stablecoin companies have attempted to enter the market but have failed to achieve perceptible adoption. The combination of specific qualities distinguishes STASIS-issued stablecoin from the crowd. After facilitating a study on euro stablecoins, the project team's most recent research clearly shows EURS to be a superior multichain asset. Taking into account the trend toward multichain development, we discovered XRPL to be the blockchain rails that offer significant benefits such as advanced scalability and increased speed, and lowered cost.
Following our initial engagement with Ripple earlier this year, which provides developers, institutions, and consumers who hold EURS with easy on- and off-ramps, we're pleased to confirm the completion of development and our willingness to move forward to begin integrating cross-border payment strategies. Meanwhile, Ripple will continue to provide technical support to STASIS. This critical step contributes to the discovery of a viable alternative to globally emerging stablecoin products.
"Another brick has just been added to the foundation of EURS, and it will solidify our asset for the next cycle of stablecoin market adoption," said STASIS CEO Gregory Klumov. "Our ongoing partnership will focus on exploring the newly-emerging opportunities of XRP to enable better financial inclusion, as well as stablecoin infrastructure and services that truly align with the values of the Web3 realm."
About STASIS/EURS
STASIS bridges the gap between Web 2.0 and Web 3.0 financial services, and it is a pioneer in commercializing stablecoin use cases such as acquisition, de facto lending, remittance, and white-label corporate settlement.
Through the strategic intersection of licensed financial intermediaries and distributed ledger technology, it has served as the most transparent and institutional-friendly part of the European blockchain ecosystem since its inception in 2017. The startup from Malta has earned the trust of traditional and conservatively regulated institutions. The STASIS team created an app that allows customers to pay, earn, and manage digital asset treasuries around the world while remaining compliant with traditional financial systems. The institutional grade infrastructure is built on and linked to the industry's top banking (BankFrick), capital markets (Exante), data compliance (Chainalysis, Elliptic), and custody (PrimeTrust, BitGo) service providers.
STASIS is the creator of the largest non-USD stablecoin EURS, with over $5 billion in transferred value. EURS competes successfully in the DeFi corner with the largest euro-denominated staking pools. EURS is currently the largest stablecoin pegged to the world's second most-traded currency and a top-10 stablecoin globally, with tens of thousands of users in its global communities.