STASIS EURS — The Most Transparent Stablecoin in 2021
By: Alex In Krypto
Tags: Transparency, 2021, Cryptocurrency, Digital Asset, Stable Coin

In the modern world, grasped by volatility and uncertainty in the future of the financial and cryptocurrency sector, the need for trusted and reliable stablecoin solutions rises dramatically.

The ongoing acceptance of the distributed ledger technology and blockchain-based cryptocurrencies paves the way to a smooth shift — from fiat to digital. Nations tend to rely on their balance-sheet currencies and assets they see fit in the modern world. Despite being an EU-only currency, Euro grasped the attention of individuals and corporates in many world countries. From Latin American to Asia — people unravel the benefits of the Euro currency and, consequently, the convenience of using euro-backed stablecoin such as STASIS EURO (EURS).

Opening the box of stablecoin use cases

Since its inception, STASIS has been a crypto-enabler platform designed to bridge the gap between traditional finance and cryptocurrency markets. Its first product, EURS, is a fully collateralized, euro-pegged stablecoin. Launched in June 2018, EURS currently has a market cap of over 100 million in USD equivalent and is a top 100 digital asset by market cap.

In 2021, EURS is the world’s leading non-USD stablecoin, with a broad international base of investors that realized how convenient and popular our solution is for the market. Our unparalleled transparency makes it possible to enable EURS to be traced directly to how it was created and how it operates today.

Created with a clear goal to open the path to crypto adoption in Europe and beyond within EU accepted laws and regulations, it works through established banks and auditors.

STASIS reserves expanded beyond cash and its equivalents in July 2021, and we provided a more detailed breakdown of reserve composition, adding clarity and insight into the assets backing the largest euro-backed stablecoin.

Mindful of community sentiment, our company responds to engagement from USDC users, developers, and other stakeholders by deepening its commitment to transparency and exploring new opportunities to collaborate with the community. Later this year, we expect to announce several new opportunities for members to become more formally involved with STASIS standards and governance activities.

STASIS’s standards have provided assurance and trust to the ecosystem contributing to the dramatic growth of EURS over 2021. EURS is actively employed on major exchanges and in DeFi protocols and is increasingly being used as a form of payment across a growing number of applications. The goal of the multi-chain vision is becoming real, with EURS now live on alternative blockchains.

Since its inception, the STASIS team considered transparency as our main distinguishing feature and our quality differentiator to be one of the largest top auditors in the world. The BDO, one of the world’s leading networks of independent public accounting firms is one of our most trusted partners. This international network of public accounting, tax, and advisory firms announced a total combined fee income of US$ 10.3 billion / € 9.2 billion, representing year-on-year growth of 7.8% at constant exchange rates (+7.5% in euro; +6.7% in US$). BDO public accounting, tax, and advisory firms provide professional services in 167 countries, with 91,054 people working out of 1,658 offices worldwide.

Understanding what customers are striving for

We at STASIS have always strived for maximum openness in front of our token holders, and, accordingly, we have the capacity to perform verifications on a daily basis. Our team has often outlined multiple times that we never engaged in any illicit activity or launched ICO to raise funds.

We provide an unrivaled level of reserve transparency so that investors can always be confident that their digital assets are fully backed by the appropriate collateral.

However, given the fact that the project exists on the funds from stakeholders (and we did not raise money through crowdfunding and are only experimenting with attracting external investors) and in this regard, we did not see support from the community, that substantial verification from the top counterparty gives an advantage, we made a decision to reduce the frequency of these verifications.

If someone is interested in sponsoring us to increase the frequency of this verification, don’t hesitate to contact co@stasis.net. Our team will contact you and review this possibility to come live.

In the meantime, we will continue to publish reports in the format of a quarterly, annual, and on-demand basis.

Stay tuned and follow us:

Website — https://eurs.stasis.net/

Twitter — https://twitter.com/stasisnet

Telegram — https://t.me/stasis_community

Discord — https://discord.gg/uKVjgR8C

Medium — https://medium.com/stasis-blog

Youtube — https://www.youtube.com/channel/UCq7eJ9c8ec2PEQweJg-pcDA