Month in review: July
Welcome to Month in Review, where the team behind STASIS and EURS share our thoughts on what’s been happening.
The Month in Review is originally distributed each month as a newsletter. You can sign up to receive it here.
Some thoughts on the euro
EURS is the only major stablecoin in the market that is currently not pegged to the US dollar. While everyone else was trying to bring the global reserve currency onto the blockchain, we saw another opportunity, one that was underappreciated. In 2017, the EU accounted for 34% of world trade, and figure that shouldn’t be overlooked when cross-border transactions are one of the most widely heralded use cases for blockchain technology. In addition, the euro area has a population of over 340 million people, who use the euro for everything from paying employees to buying coffee in the morning. Over time, a euro-pegged cryptocurrency can make all of these processes far more efficient.
But it’s not just about tapping into the market for the euro at home. As we look at the global economic situation today, we believe that the euro is well positioned to grow in its role as a major world currency. By putting it on the blockchain, we can make it easier than ever for people around the globe to access the world’s second most traded currency. We took significant steps in this regard in July, with a new CAD/EURS listing for Canadian residents, plus a major exchange listing that makes EURS more accessible than ever in parts of the United States.
Another smart contract audit
Security is of the utmost important at STASIS. To make sure that our smart contract is totally secure, we carried out a second smart contract audit, this time with CertiK, to check for any potential vulnerabilities. Our smart contract received a strong score of 90/100, with a few minor issues detected, but nothing that puts client funds at risk. You can read more about the results here.
Significant new listings
In July, EURS was listed on OKCoin. OKCoin is one of the largest and most trusted fiat-to-crypto exchanges in the world, and is available to users in 184 countries. The exchange is also a registered Money Services Business (MSB) with FinCEN; we’re happy to welcome them into our ever-growing network of licensed financial intermediaries supporting EURS. It’s also available to users in many parts of the United States, providing a trustworthy platform for Americans to access EURS.
We also added a new fiat/EURS trading pair this month, with our listing on VirgoCX. VirgoCX is a Canadian exchange with a focus on stablecoins. The listing means that Canadian users will now be able to trade directly between EURS and Canadian dollars.
Finally, EURs was also listed on Tokenomica’s digital asset exchange, which combines both centralized and decentralized features, and utilizes the Waves blockchain. Like STASIS, Tokenomica is working within Malta’s Virtual Financial Asset (VFA) regulatory framework.
Wallet redesign
For several months, we’ve been implementing a full redesign of the STASIS Stablecoin Wallet, and we’re proud to say that it’s now ready for both Android and iOS. If you don’t already have the wallet, you can download it here for Android or here for iOS. In addition to EURS, you can send and receive BTC, ETH, DAI, TUSD, PAX, and USDC.
Worth watching
Our CEO Gregory’s TEDx, in which he talks about how blockchain technology can help us quantify our trust in financial institutions, is now up on YouTube. If you’re interested, you can check it out here.
Thanks for reading the STASIS Blog! Want to learn more about what we do? Check out our website, or download the STASIS Wallet.
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