Month in Review: March
Welcome to Month in Review, where the team behind STASIS shares our updates from the past month, as well as some thoughts on key issues for the stablecoin space.
The Month in Review is originally distributed each month as a newsletter. You can sign up to receive it here.
Some thoughts on transparency
The decentralization of finance is about giving people control over their own wealth. This has a lot to do with trust. The current financial system operates with the implicit association that people can’t trust themselves—or be trusted—with their own money, so they ought to hand control over to “more trustworthy” experts. The irony, of course, is how often these experts harm people for their own self-interest.
In the cryptocurrency industry, we believe that people can and should be trusted with their own finances. That’s why we build products that allow people to “be their own bank” and to transact without relying on intermediaries. It turns out that the “trustless” economy is the one that actually has faith in people.
At STASIS, we’re also choosing to trust people with our financial information, because we think that they can and should make their own decisions about using our products. We know that our finances are solid, and that our reserve accounts always have the money they should. But we don’t expect anyone to take our word for it. That’s why we’ve decided to publish our entire financial audit for 2018, not just the conclusion—because we trust our users enough to let them make their own decisions. More on that below...
The first stablecoin audit
In December, we announced that we had onboarded a Top 5 global accounting firm to audit our reserves. We’re excited to announce that the first audit is complete, and available in full on our website. The annual audit covers the period from the company’s creation in May 2018 through the end of the year.
The publication of the audit means that we now have publicly available documents for our three major reserve verification streams: quarterly and annual audits, weekly third-party verifications, and daily account statements. Together, these provide an unparalleled level of reserve transparency. You can find all the documents here.
New Listings and Partnerships
- EURS is now supported in the Coinomi Wallet. The wallet application offers a multilingual interface and a built-in exchange with over 500 digital assets
- EURS is now listed on ForDeX, the first cryptocurrency exchange built specifically for stablecoins
Redesigning the STASIS Wallet
In March, we rolled out the first part of a comprehensive redesign of the STASIS Wallet. While the basic functions will stay the same, we’re giving the app a facelift and making it even easier to send and exchange digital assets. The February update focused on making it even easier to create your wallet. More updates are coming soon!
Greg at TEDx Warwick
On March 2, our CEO Gregory gave a talk at the TEDxWarwick conference in the UK. The theme of the conference was “architects of tomorrow,” and Greg’s talk focused on how tokenization can be used to “quantify trust” in the financial system. If you’re interested in watching the task, keep an eye on our social media—we’ll share the link there as soon as it’s published.
Worth reading
- In February, Gregory was quoted in Bloomberg giving his opinion on how significant JPMorgan’s new JPM Coin actually is. You can read it here.
