The Euro has a digital currency pegged to it now, and it’s all thanks to a company called Stasis based in the beautiful cryptocurrency friendly island Malta. The digital currency is called EURS and will be pegged at a 1:1 level against the Euro.
STASIS platform has become famous because of its allowance of free flowing of capital between off chain and on chain forms of digital assets. It is tied up with the Maltese government in regards to the cryptocurrency legal framework since 2012.
The launch had the makings of glamour with it taking place at the very important Malta Chamber of Commerce.
Gregory Klumov, CEO and founder of Stasis, spoke of the drive and need for the stable coin called EURS.
Klumov said, “We received a lot of interest from institutional investors – these want transparency and security first and foremost. There are also those investors who want to reduce the volatility of their portfolios and are looking for a stable coin to do so. Such investors participate in ICO’s, and with fiat banking systems, you can’t execute a transfer immediately which is essential for such investments. EURIS allows you this kind of flexibility to execute transactions immediately in a transparent manner. Our reserves are verified daily so every investor will have confidence that the tokens issued are backed up.”
Klumov went on record to mention that Ethereum was the best blockchain at the moment.
EURS is available to purchase in the London based exchanged DSX with several other cryptocurrency exchanges planning to make EURS available soon.
According to Stasis’s website, EURS is aiming to become “a collateralized stable coin designed to become the backbone of the crypto-economy.”
Stasis had even tweeted its appreciation for the president of Malta taking time out to talk at the EURS launch.
The official website of the Maltese President published photos of her giving a speech at the EURS launch. We were extremely honored by your visit, your Excellency! https://t.co/rLyRth7KAm pic.twitter.com/rNCTXSJjLf
— STASIS (@stasisnet) July 9, 2018
Stablecoins is said to be the next big thing in cryptocurrency markets as institutional cryptocurrency investors need an asset to trade with which is not volatile and less risky.
Image Source: “Flickr”