STASIS Euro (EURS) is a stablecoin pegged with the euro currency. It is issued by the Malta-based fintech company STASIS. EURS flexibility is STASIS’s primary objective, which is to prevent the inefficiencies of single-layer solutions. We are committed to utilizing the maximum potential of distributed ledger technologies for our stablecoin and adjusting to the future. An ecosystem of liquidity providers, custodians, exchanges, payment platforms, and other entities supports the stablecoin.

About STASIS

STASIS is a European MiCA-regulated fintech firm that develops Web3 products, enabling institutional and retail clients to manage digital currencies and public blockchains. STASIS seeks to guarantee the flexibility of EURS to prevent the inefficiencies associated with single-layer systems. The company aims to introduce an alternative to USD stablecoins inside the digital asset sector. Stasis earns income through multiple avenues to facilitate the platform’s growth and upkeep.

These encompass fees imposed on users for specific activities on the platform, such as the acquisition or disposition of stablecoins; bespoke technological solutions for financial institutions and enterprises seeking to utilize stablecoins in their operations; licensing its technology to other companies or platforms desiring to employ it for their stablecoin offerings; and reserves management, wherein custodians remit a modest yield to Stasis for maintaining the reserves. To increase transparency, the company releases daily statements from account providers, weekly verifications, and quarterly audits carried out by a top international accounting firm.

What is STASIS Euro?

EURS, a stablecoin pegged to the Euro, is a cryptocurrency and ERC/EIP20 token issued by the Malta-based fintech company STASIS. As an ERC token, EURS is the first stablecoin to implement delegated payments on the Ethereum network. As a cryptocurrency token, 1 EURS is equivalent to 1 euro and is intended to offer a secure method of storing and transferring value, similar to the Euro’s function as a stable currency. To guarantee that the token’s value remains 1:1 linked to the Euro, a reserve of Euros entirely backs it. STASIS facilitates a 1:1 conversion between EURS and EURS by backing the tokens it issues with an equivalent quantity of traditional financial assets.

EURS is the most significant digital asset supported by the Euro, amalgamating the advantages of the world’s second-most traded currency with the blockchain’s efficiency, transparency, and immutability. EURS is currently running on five blockchains: Ethereum, Polygon, Algorand, XRPL, and XDC, as well as two bridges: Arbitrum and Gnosis Chain. With the STASIS Euro (EURS), users are no longer required to pay GAS fees to conduct transactions. Alternatively, they may utilize EURS or any other digital asset supported by the STASIS wallet to pay transaction fees, substantially enhancing the user experience.

Background of STASIS Euro (EURS)

In 2018, STSS Limited, more commonly known as STASIS, launched STASIS euro on Ethereum. STATIS is comprised of financial specialists, serial entrepreneurs, and crypto enthusiasts. The leading figures are Gregory Klumov (CEO), Anatoliy Knyazev (CTO), and Vyacheslav Kim (CFO). Klumov is a technology entrepreneur specializing in developing complex business multi-strategies and alternative asset management. Gregory Klumov is also an investment advisor and serial investor.

In 2020, STASIS introduced a new wallet that gave traditional financial institutions innovative access to cryptocurrencies. The EURS token experienced substantial market capitalization growth in 2021. EURS was launched on blockchains other than Ethereum (such as Polygon, Algorand, and Ripple) between 2021 and 2022, and a second iteration of the token (EURS v2.0) was also released. The prevalence of EURS experienced a significant increase in 2021, and the total supply of STASIS’ stablecoin reached approximately 124 million euros by early 2022 despite having a market capitalization of roughly 30 million euros through 2020.

With a track record of over five years of success, STASIS-issued EURS had firmly established itself as a leading asset in the euro stablecoin segment by 2023. It caters to various users, including businesses, traders, and merchants. EURS had been utilized to transmit over 5.5 billion euros of value on-chain by 2023.

Key Features of STASIS EURO (EURS)

STASIS EURO (EURS) is an innovative stablecoin that provides a novel method of obtaining Euros on the Ethereum blockchain and is suitable for various applications. Its following important features distinguish the STASIS Euro (EURS):

• Stability: EURS’s value is stable and does not fluctuate relative to other cryptocurrencies, as it is fixed 1:1 to the Euro.
• Transparency: STASIS releases monthly audit reports demonstrating EURS’s reliance on the Euro.
• Accessibility: EURS is available for purchase and sale on various cryptocurrency exchanges.
• Applications: EURS can be employed for various purposes, including trading, remittances, and payments.

How Does STASIS Euro (EURS) Work?

EURS is a stablecoin traditionally collateralized with cash and guaranteed by EUR bank deposits. STASIS enables customers to purchase EURS through credit card issuers and traditional bank payment rails such as SEPA or SWIFT. The company can mint EURS tokens on a 1:1 basis (minus a fee) worth an equivalent quantity of money as users deposit funds. These tokens are functional throughout the cryptocurrency ecosystem.

STASIS, a centralized issuer of a stablecoin, offers a variety of evidence to demonstrate that it can genuinely stand behind all EURs in circulation. This is most frequently referred to as Proof of Reserves (PoR). The auditing firm BDO Malta conducts quarterly verifications and annual audits of the company, in addition to issuing a daily asset statement. Investors and users can be confident that the necessary collateral fully backs their digital assets in this way.

To access and verify the daily account statements analysis, STASIS reserve balances, and the annual audit report by BDO Malta, users can visit the official STASIS website, proceed to the EURS area, and select transparency or via this link (https://stasis.net/transparency). The platform provides access to downloadable older versions of verifications and audits from 2019.

STASIS Bridge

STASIS Bridge is a capital-efficient cryptocurrency bridge that facilitates zero-liquidity cross-chain asset transfers. It functions on a centralized model, guaranteeing improved security and restricted access for authenticated clients. This guarantees a reliable user base and preserves the integrity of transactions throughout the network. STASIS possesses a distinctive competitive advantage in the cross-blockchain transfer of tokens via the EURS stablecoin minting mechanism. The technology offers a cost-efficient and effective method for token transfers across several networks. Efficient bridge technology enables customers to transfer assets with minimal fees.

Features of STASIS Bridge

Extensive Chain Compatibility

The bridge can be effortlessly expanded to other blockchains utilizing the versatile HTLCs compatible with diverse networks. The bridge currently facilitates smooth transactions across six principal blockchains. This feature allows users to engage with various ecosystems while utilizing EURS.

Secure Transactions

To transact via the STASIS Bridge, users’ wallets must register with and pass the Satoshi Test or Wallet Connect. This stage is essential for verifying ownership and ensuring transaction security, paralleling the security assessments performed during the acquisition of EURS.

Minimal and Transparent Fees

The bridge features minimal transaction fees, nearly corresponding to the expenses incurred in acquiring EURS. Transaction volume determines the commission structure, ensuring reasonable and competitive fees. The specifics of these costs are explicitly delineated, eliminating any concealed charges and promoting openness.

Benefits of the STASIS Bridge

The STASIS Bridge boosts the liquidity of the stablecoin by enabling seamless EURS transfers between various blockchains, hence increasing its appeal to investors and consumers. The bridge facilitates EURS’s seamless operation across various blockchain settings, dismantling barriers between networks and promoting a more linked cryptocurrency ecosystem. Furthermore, it enhances the transfer process, potentially decreasing transaction fees and minimizing transfer durations relative to conventional cross-chain methods. The bridge incorporates advanced security protocols to guarantee safe transactions, preserving user confidence and the integrity of the EURS token.

Applications of STASIS Euro (EURS)

STASIS EURO is a compliant and regulated euro stablecoin that is one of the largest on the market, with over 6 billion euros transferred on-chain across multiple leading blockchains. EURS can be sent, spent, held, and traded worldwide anytime with low-cost, near-instantaneous transactions. EURS has the potential to function as a stablecoin, which implies that it has the following applications:

Storage of Value

EURS can store value in a digital format linked to the Euro, offering a stable alternative to more volatile cryptocurrencies such as Bitcoin.

Remittances and Payments

EURS can facilitate cross-border remittances and payments, enabling transactions to be completed more quickly and at a lower cost than traditional financial systems.

Hedging against Market Volatility

EURS can mitigate market volatility in the cryptocurrency market, as it is linked to the Euro, which is generally regarded as a stable currency.

Trading on cryptocurrency exchanges

EURS can be traded as a trading pair with other cryptocurrencies, including Bitcoin and Ethereum, on various cryptocurrency exchanges.

DeFi

The advantages of EURS can be utilized in decentralized finance pools in various ways, including stacking, liquidity supply, lending, and farming.

In general, EURS is intended to offer a trusted and stable digital version of the Euro, appropriate for a diverse array of applications that necessitate a dependable store of value and efficient transactions.

STASIS Euro’s Technology and Notable Partnerships

STATIS Euro Technology

The Ethereum blockchain deploys the EURS token as an ERC-20 token with a proof-of-stake (PoS) consensus mechanism. EURS became accessible on Ethereum layer-2 chains such as Arbitrum, Polygon, Gnosis Chain, Algorand, XRP, and XDC Network in 2021. Furthermore, STASIS EURO partners with KPMG adhere to AML and KYC verification procedures and comply with European regulatory requirements.

STASIS Euro Notable Partnership

Ripple x STASIS EURO

STASIS issued the EURS stablecoin on the XRP Ledger (XRPL) in February 2022 due to its “scalability, speed, low cost, and carbon neutrality.” Additionally, the partnership offered developers, institutions, and consumers who possess EURS expedient on- and off-ramps.

Bubblemaps x STASIS

In July 2022, STASIS partnered with Bubblemaps, the first supply auditing tool for DeFi tokens and NFTs, to enhance transparency on the platform. Bubblemaps enables users to investigate any DeFi project by displaying its top holders as bubbles (each bubble represents a wallet). When ETH is transmitted between those holders, the bubbles of the holders are connected on the bubble map. This provides an exact representation of the token distribution.

Propine x STASIS

On October 30, 2023, STASIS partnered with Propine, which holds a Monetary Authority of Singapore (MAS) license, to custody their stablecoin EURS. As part of the partnership, STASIS implemented Propine’s extremely secure, tried-and-true custody solution, ProTectTM, to safely store and manage their assets. STASIS’ trading requirement for EURS was fulfilled by Daenerys, a trusted associate of Propine, for which the MAS has granted an exemption under the Payment Services Act (“PSA”).

Conclusion

STASIS Euro (EURS) is a stablecoin based on Ethereum and linked to the euro fiat currency. It is supported by a network of liquidity providers, custodians, exchanges, payment platforms, and additional entities. EURS is a stablecoin with minimal credit risk that facilitates user access to the digital asset market by providing business payment channels, a dependable transaction method, price stability, and streamlined engagement with the cryptocurrency ecosystem.