STASIS Partners with Folks Finance to Boost EURS Adoption on Algorand!
A new milestone for thriving Algorand community
STASIS, a leader in issuing euro-backed stablecoins with their flagship product EURS, has recently announced a partnership with Folks Finance, a top DeFi platform on the Algorand blockchain. This collaboration aims to boost EURS adoption on Algorand, enhancing its reach and usability within the ecosystem. STASIS’s EURS stablecoin is notable for being the first fully compliant and regulated euro stablecoin, having facilitated over 6 billion euros in transactions across multiple blockchains. Folks Finance, a DeFi innovator, integrates EURS to offer enhanced stability and trust, furthering a robust financial ecosystem on Algorand.
The Integration: A Boon for Both Communities
The integration of EURS into Folks Finance is a strategic move that brings together two major players in the cryptocurrency world. For STASIS, this partnership means expanding the accessibility and utility of their EURS stablecoin to a broader audience, particularly within the DeFi sector. By leveraging Folks Finance’s advanced lending and borrowing tools, EURS gains an additional layer of functionality and appeal, making it an attractive option for users looking for stable and reliable digital assets.
For Folks Finance, this collaboration with STASIS adds a high-profile asset to its platform, attracting users who prefer transacting in stablecoins pegged to fiat currencies like the euro. The inclusion of EURS enriches the diversity of assets available on Folks Finance, enhancing the platform’s appeal to a global user base, especially those in the Eurozone or those who prefer transacting in euros.
EURS: Trusted, Reliable and Market-Tested
STASIS EURO (EURS) stands out as the oldest and fully compliant euro stablecoin, with a proven track record of over five years. It’s recognized for its stability and compliance, having transferred over 6 billion euros on-chain across multiple major blockchains. The 1:1 backing of EURS assets, with collateral stored at the Central Bank, mitigates commercial banking risks, providing users with a trustworthy and stable option in the volatile crypto market.
Folks Finance is revolutionizing DeFi with its user-friendly platform that offers a comprehensive suite of tools for lending, borrowing, trading, and managing digital assets. Operating on the Algorand blockchain, it emphasizes a seamless user experience, competitive with centralized exchanges, while maintaining the security and transparency of permissionless smart contract technology.
A Step Forward in Web3 Financial Services
This partnership is more than just a technical integration; it’s a move towards promoting transparency, inclusivity, and innovation in the Web3 financial services ecosystem. The collaboration between STASIS and Folks Finance is a testament to the growing convergence of traditional finance and decentralized finance, paving the way for a more accessible, efficient, and inclusive financial future.
Gregory Klumov, CEO of STASIS, commented on the partnership, stating, “This partnership underscores STASIS’s commitment to promoting transparency and inclusivity in financial services within the Web3 ecosystem. It signifies our commitment to fostering transparency and inclusivity in the evolving Web3 financial services landscape.”
The integration is a strategic move for both STASIS and Folks Finance. STASIS expands EURS’s accessibility and utility, particularly in the DeFi sector, by utilizing Folks Finance’s advanced tools. For Folks Finance, incorporating EURS brings a high-profile asset to its platform, appealing to users who prefer transactions in stablecoins.
Benedetto Biondi, CEO of Folks Finance, highlighted the benefits of this partnership, stating, “Integrating EURS into our platform not only diversifies our asset offerings but also aligns with our vision of creating a more stable and trustworthy financial ecosystem for our users. It’s a testament to our commitment to innovation and user-centric solutions in the DeFi space.”
The partnership between STASIS and Folks Finance symbolizes a significant move towards a transparent, inclusive, and innovative Web3 financial services ecosystem, merging traditional and decentralized finance for a more accessible and efficient future.
About Folks Finance
Folks Finance is a leading DeFi platform providing innovative tools for lending, borrowing, trading, and managing digital assets, all in one place. Folks Finance streamlines the DeFi experience with a UI and UX competitive to centralized exchanges, all while running on permissionless smart contract technology.
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About STASIS/EURS
STASIS is a European fintech firm that serves as a conduit between traditional financial services and emerging Web 3.0 technologies. It specializes in stablecoin applications and is dedicated to providing user-friendly tools for managing digital currencies. The STASIS EURO or EURS stablecoin pegged to the euro, stands out as a top asset in the DeFi space and enjoys widespread usage and adoption.
The EURS Network, powered by EURS, is an integrated ecosystem encompassing various crypto exchanges, financial services and platforms and digital wallets. It’s designed to provide users with a comprehensive suite of tools for managing and transacting in the EURS stablecoin. This integrated environment aims to enhance the practicality and usability of the EURS stablecoin for various financial transactions.
To learn more about Stasis and EURS, check out the links below:
