STASIS to Issue Euro Stablecoin on the XRP Ledger

The largest multi-chain euro-backed stablecoin is now coming to XRPL!

Malta, February 16, 2022 — STASIS, an established leader in euro-backed stablecoin production, today announced it will issue the EURS stablecoin on the XRP Ledger (XRPL) due to its scalability, speed, low cost, and carbon neutrality. The partnership also provides developers, institutions, and consumers who hold EURS with easy on and off-ramps.

EURS is the leading euro stablecoin and among the top 10 stablecoins globally. Ripple will provide STASIS with the technical support necessary to integrate EURS with XRP Ledger in H2 2022.

“Since STASIS is destined to lead innovation in the stablecoin technology and digital asset space, we are delighted to partner with Ripple as the trailblazer of this realm,” said STASIS CEO Gregory Klumov. “The partnership will focus on exploring options to provide our clients with greater financial access to stablecoin infrastructure and services via the XRP Ledger.”

Built for payments, the XRPL and its built-in decentralized exchange (DEX) can support the issuance of stablecoins with a unique, fungible token functionality called Issued Currencies. Issued Currencies is designed to be the ideal stablecoin platform, providing simple but rich management functionality for the issuer that makes it easy to create, issue, and manage any asset — including stablecoins.

“Developers and institutions require easy on and off-ramps to create great user experiences for their crypto products,” said Monica Long, GM of RippleX. “We’re thrilled to support STASIS in bringing EURS to the XRP Ledger, whose DEX enables near-instant, low-cost settlement and liquidity for assets of all kinds.”

About STASIS/EURS

STASIS is a crypto-enabler platform that aggregates solutions from licensed financial intermediates to provide an institutional-grade link between the decentralized finance world and the off-chain market. STASIS team pioneers commercialization of stablecoin use cases: acquiring, DeFi lending, remittance, and white-label corporate settlement.

Since its inception in 2017, STASIS 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 euro-backed stablecoin created by the STASIS project team to raise the quality of asset-backed digital tokens managed to capture the biggest market share among peers.

STASIS has rightfully gained the trust of traditional and conservative regulated institutions that highly regard our solutions. We want to enable them to experiment in the crypto field for its operations without any regulatory or safety concerns as our wallet, fully integrated into the Single Euro Payments Area (SEPA), would offer regulated financial institutions in both business-to-business and business-to-consumer markets, a new gateway into cryptocurrencies.

Currently, EURS is the largest stablecoin pegged to the world’s second most-traded currency and ranks as top-10 stablecoin globally, accumulating tens of thousands of users in its global communities. Moreover, EURS stablecoin reserves have exceeded 100 million euros in fiat, representing a 3x growth during the last year only. Finally, the token’s smart contract has been upgraded to V2 for more efficient performance in the emerging Decentralized Finance field.

About Ripple

Ripple is a crypto solutions company that transforms how the world moves, manages, and tokenizes value to inspire new business models and create more economic opportunities. Our long-term vision is to enable the Internet of Value, where the world moves value like information moves today. Through RippleX, we contribute to accelerating the Internet of Value by inspiring and enabling developers to build solutions that use the XRP Ledger, its native digital asset XRP, and related technologies.