EURS Continues to Explore the New Horizons
The most transparent stablecoin in 2021 becomes more popular on the global cryptocurrency scene
“A ‘stablecoin’ is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar, euros or gold, to stabilize the price.” — CoinDesk
Malta, June 1st, 2021 — The importance of stablecoin continues to grow in our emerging cashless society and a world grasped by the looming financial crisis. Unlike thousands of exciting cryptocurrencies, stablecoins represent a different asset class. Being free from volatility and the promise of fast gains, such an asset has become a safe haven for investors and a great way for institutions to dip their toes into the crypto world. Running a stablecoin project is a tough business. Whilst there have been more than 200 stablecoin projects announced since 2017, very few have succeeded in this field; only 30% of stablecoins released continue to exist according to data collected by Blockdata research.
Blocktane listed EURS, offering a great trading opportunity either for Blocktaners to acquire stable positions in Euros as well as to enjoy trading strategies to make markets or arbitrage against global euro-denominated markets.
Crypto Euro is issued by STASIS, a foundation focused on addressing what it perceives to be the primary bottleneck for stablecoin creation; an E-money 2.0 regulatory framework. Since its inception, our team has been working with regulatory bodies to help them develop blockchain regulations that reduce uncertainty for companies while protecting consumers and ecosystem stakeholders.
A rare combination of financial, legal, and technical expertise is a must-have for success when it comes to stablecoin products. Malta-based STASIS has perfected its offering and continues to promote its initiative by further developing its euro-backed stablecoin and the in-house wallet solution.
It is fundamental to keep EURS backed by 1:1 to the Euro. STASIS provides an unrivaled level of reserve transparency so that investors can always be confident that their digital assets are fully backed by the appropriate collateral:
● Daily account statements
● Monthly verifications by BDO Malta
● Quarterly audits by BDO Malta
● On-demand verification for an onboarded entity
During the last month, EURS circulating supply experienced a substantial increase of more than 40%. The current balance is 67,459,957 EURS as stated on the new official website.
STASIS also offers direct access to Euros through their Swiss partner SCB Exchange where users can transfer funds in or out of their bank accounts to create or redeem EURS. EURS is also the first non-dollar stablecoin on many advanced Decentralized Finance (DeFi) protocols such as Curve. fi, and other automated market makers and liquidity pools.
Stablecoins are growing in importance in the digital asset field. In May 2020 they were worth more than $10 billion. In 2021, their share grew. The current size of the stablecoins sector is now more than $90 billion, representing 4% of the total cryptocurrency market cap. In countries like Brazil, many people are turning to stablecoins as an alternative to their national currencies in uncertain economic conditions and for instant, round-the-clock fiat transfer alternatives.
Meanwhile, in Hong Kong, some people are using stablecoins to avoid new internet censorship in a tumultuous political climate.
Independent of the use case most relevant to you, Blocktane and STASIS are dedicated to providing you the most resilient, secure, and professional services. To celebrate it, the platform will be holding a 1,000 EURS giveaway on June 21st to be proportionally distributed among all Blocktane accounts according to their EURS holdings. Start accumulating EURS now to compound your holdings!
Note: Only conditions that apply for this giveaway: be fully KYC’d on Blocktane and hold a minimum balance of 10 EURS by June 20th.
