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STASIS Blog

STASIS integrates the XRP Ledger to further shape the vision of multichain stablecoin

Malta, November 1, 2022 — STASIS, the issuer of the largest euro-backed stablecoin, has completed XRP Ledger integration for its flagship EURS stablecoin, enabling another powerful stream for the global digital asset economy. Co-Developed by the XRPL community, XRPL Foundation and Ripple, a leading provider of enterprise blockchain and cross-border payment cryptographic solutions, XRP Ledger will reopen the box of stablecoin use cases.

By 2022, EURS has cemented its place as a most trusted asset in the euro stablecoin segment, that has seen very few competitive fintech products. Given that the global user base has just started climbing their learning curve in understanding the risks behind these products, many stablecoin companies have tried to penetrate the market and failed to achieve perceptible adoption. The combination of specific qualities makes STASIS-issued stablecoin stand out from the crowd. The latest research conducted by the project team clearly shows EURS to be a superior multichain asset after facilitating a study on the euro stablecoins. Taking into account the direction towards multichain development, we found XRPL to be the very blockchain rails that provide significant benefits such as advanced scalability, increased speed, and lowered cost.

Following our initial engagement with Ripple earlier this year that provides developers, institutions and consumers who hold EURS with easy on and off-ramps, we’re happy to confirm the finalization of development and willingness to enter the next stage to start integrating strategies for cross-border payments. Meanwhile, Ripple will continue to provide STASIS with technical support. This vital step helps to reveal a viable alternative to globally emerging stablecoin products.

“Another brick has just been added into the foundation of EURS, and it will solidify our asset for the next cycle of stablecoin market adoption. Our ongoing partnership will focus on exploring the newly-emerged opportunities of XRP to enable a better financial inclusion as well as stablecoin infrastructure and services that truly align with the values of the Web3 realm,” — said STASIS CEO Gregory Klumov.

About STASIS/EURS

STASIS provides a bridge from Web2.0 to Web3.0 financial services, and it pioneers in the commercialization of stablecoin use cases: acquiring, DeFi lending, remittance, and white-label corporate settlement.

Since its inception in 2017, it has functioned as the most transparent and institutional-friendly part of the European blockchain ecosystem through the strategic intersection of licensed financial intermediaries and distributed ledger technology. The Malta-based startup has rightfully gained the trust of traditional and conservative regulated institutions. The STASIS team built an app that allows customers to pay, earn and run digital asset treasuries globally and stay compliant with a traditional financial system. The institutional grade infrastructure is based on and connected to the leading banking (BankFrick), capital markets (Exante), data compliance (Chainalysis, Elliptic), and custody (PrimeTrust, BitGo) service providers.

STASIS is the issuer of the largest non-USD stablecoin EURS with $5B+ of transferred value. EURS successfully competes in the DeFi corner with the biggest euro-denominated staking pools. Currently, EURS is the largest stablecoin pegged to the world’s second most-traded currency and ranks as a top-10 stablecoin globally, accumulating tens of thousands of users in its global communities.

For more information, visit: https://eurs.stasis.net/.

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