Stablecoins like EURS have a great chance to become the E-money 2.0 ultimatelyDecember 7, 2019
The price of Stasis Euro is at $1.1. This is a Euro backed, stable coin. EURS is the first kind of Euro-pegged digital asset. Each token is backed by 1:1 Euro tokens, which are held in reserve accounts. The support system for this token is an ecosystem of liquidity providers, exchanges, custodians, payment platforms, and others.
STASIS is a member of INATBA — International Association for Trusted Blockchain Applications. They have obtained a legal opinion concerning their work from Malta, UK, and Germany and have notified BaFin, MFSA, FCA, and AMF about their work in the stable coins space.
One of the tweets read thus: “Stablecoins like the EURS has a great chance to become the E-money 2.0 ultimately: can’t be counterfeited by cash and are more regulation-friendly as such assets are trackable on public blockchains.”
To reassure traders and investors about their official position, STASIS had analyzed more than a dozen jurisdictions before they came up with their concept. Their concept is partially implemented in Malta. They have considered Monetary policy, safety, sovereignty, financial stability, fair competition, and efficiency of payment systems.
Investors and traders can buy EURS via ePayments and trades on several digital asset exchanges like Changelly, Globitex, HitBTC. The EIP-20 is used as a standard to implement standard API for tokens within smart contracts. This provides for the significant functionality required to transfer tokens. This also permits the tokens to be approved so that another can spend them on the on-chain third party.
The STASIS blog spoke about how they are trying to balance risk and reward while having a concern for governmental actors.
The blockchain is transparent. The current blockchain balance is at 31, 979, 207 EURS. There is absolute transparency in the reserve accounts.
The use cases of this token have been for a hedge against volatility, cross-border transactions, access to reliable currency, and to make instant payments, for exchanges, and also for payment platforms.
The STASIS community consists of a network of partners who have collaborated for asset tokenization to improve on market adoption to make it possible for the tokens created to be reliable, fungible, and easy to use.
The Exchange community provides for finding the best option for trading EURS either for another cryptocurrency or another fiat currency. The KYC procedures vary depending upon the jurisdiction of the exchange.