The team behind the largest euro-backed stablecoin is announcing integration with Ripple Lab’s XRP Ledger (XRPL).
In a new blog post, Stasis, the company behind STASIS EURO (EURS), says they have completed integrating EURS into the XRP Ledger.
Says Stasis CEO Gregory Klumov,
“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.”
Some of Stasis’s partners include BitGo and BitFinex.
EURS is an Ethereum (ETH)-based stablecoin that aims to remain pegged to the euro on a 1:1 basis. The EURS is used as a means of payment and to hedge against volatility.
Stasis said there are multiple reasons it chose to use the XRP Ledger for EURS.
“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.”
The new stablecoin launch comes months after Ripple secured a partnership with digital asset exchange CrossTower to bring non-fungible tokens (NFTs) to the XRP Ledger.
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