Another One Bites the Dust
How XDC-powered EURS withstands market turmoils, while others fall
The stablecoin realm was envisioned as a place of stability for crypto adopters and a safe haven for traders. Inventing in Bitcoin, Ethereum, or other altcoins just wasn’t enough — providing a crypto version of the dollar, euro, and other world currencies was subsequently vital for the further development and easier interaction within the crypto ecosystems.
Once stablecoin assets arrived on the market, users became calmer about their crypto investments, since it could almost instantly be transferred to non-volatile assets. As the industry grew by leaps and bounds and thousands of assets emerged later on, the stablecoin sector also grew in numbers. However, in the last five years, the downfall of stablecoin projects has become a gruesome tradition. The latest UST crash saga and BUSD FUD story once again remind us that one should be extremely cautious when choosing digital asset instruments.
Brick by brick
Stablecoins have been adopted by individuals and businesses to facilitate cross-border payments and other financial transactions, making payments instant and cheap. These assets allow one to receive payments in seconds, without the long processing times and high fees associated with intermediaries such as banks and credit card companies.
Eventually, some of these assets have experienced significant price drops or even lost their peg to the underlying asset, which led to financial losses for investors or users.
In addition, there are ongoing concerns about the lack of transparency and regulatory oversight in the stablecoin industry, potentially exposing users to counterparty risk and other vulnerabilities. Hundreds of stablecoin projects went into oblivion over the years.
Regulatory compliance is getting all the headlines once again. Recently, Paxos, a fintech firm, has revealed that it will no longer be producing Binance USD (BUSD), a dollar-backed stablecoin of the popular cryptocurrency exchange, Binance. However, due to regulatory reasons, Paxos has decided to discontinue minting BUSD for Binance. Although this may impact Binance’s operations, the exchange has already been working on creating its own stablecoin, which should mitigate any disruption.
The news was met with a mix of skepticism and agitation by the crypto community. Once again, users are searching for another safe haven…
Understanding STASIS EURO differentiation
…And it’s been here for years . Produced by fintech startup STASIS, EURS multi-chain stablecoin is a perfect instrument for a casual user, trader, hodler and many others.
STASIS is a revolutionary B2B2C platform operating the largest Euro-backed stablecoin in the digital assets’ universe since 2018. The company’s vision is to bring an alternative to USD stablecoins into the digital asset space.
This European fintech company is developing native Web 3.0. ecosystem to manage digital assets as well as public and private blockchains.
While both BUSD and similar stablecoins may seem to have some advantages, there are reasons why investing in such assets may be riskier than investing in EURS. First, BUSD is pegged to the US dollar, which has been facing a lot of economic and political uncertainty in recent years. The value of the US dollar has been impacted by factors such as the trade war with China, the COVID-19 pandemic, and the rising national debt. These factors can cause fluctuations in the value of BUSD, making it a perilous investment.
On the other hand, EURS is pegged to the euro, the European Union’s currency and the world’s second-largest. The euro is also widely used as a reserve currency, which adds to its stability.
There are several vital reasons why Stasis Euro (EURS) is more reliable than BUSD or other similar stablecoins:
- Transparency: EURS is fully transparent, with regular audits and detailed reporting available to the general public. This allows users to have complete confidence in the stability and reliability of the stablecoin. BUSD, on the other hand, operates with less transparency and limited information available to the audience, making it difficult to assess its stability & reliability.
- Backing: EURS is fully backed by cash and reserves, and Tier-1 auditors have full direct and permanent access to accounts for review — not the case with other assets. Thus, providing users with the assurance that their funds are safe and secure. BUSD, on the other hand, is backed by a combination of U.S. dollars and Binance’s own funds, which are not subject to the same level of transparency and oversight.
- Coverage & accessibility: EURS has no cap on the number and volume of transactions, due to the EU’s MiCA regulation. STASIS serves 175 countries vs 86 of its closest competitor, making it ultimately attractive for European and foreign investors.
- Swiss-grade services: The most rigorous corporate governance aswell as independent Swiss-based AML while top 5 audit comes as the icing on the cake.
And these are only the most vital differentiting factors…
Choosing the right anchor for your crypto portfolio smartly
Today, the stablecoin segment continues to grow. However, most players are subject to failure from the start: they do not onboard individuals, teams have zero adoption and track record, or hold funds at questionable financial institutions.
Intending to advance further and transform EURS into multi-chain asset, STASIS team has been carefully choosing the next blockchain, and XinFin’s solution was a great fit due to its core value proposition and community values.
The XinFin XDC Network ($XDC) is an enterprise-ready, open-source, hybrid blockchain protocol specializing in tokenization for real-world decentralized finance.
Security is at the forefront of the XDC Network’s design through its delegated proof-of-stake protocol, which enables faster and more secure transactions while maintaining a high level of transparency.
With its solid technical foundation and storied history, the XDC Network has long attracted projects that share a vision of transparency and compliance.
EURS regulatory compliance, transparency, backed reserves, and strong community support make it a better choice for users looking for a stable and secure digital asset. Stop losing money in overhyped “stablecoins”. Whether you are a DeFi enthusiast, a professional trader, or just someone looking to store value, Stasis Euro is an excellent choice.
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