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Maltese Startup STASIS Completes XRP Ledger Integration to Facilitate Cross-border Payments with Euro-Secured Stablecoin EURS
As stated by STASIS CEO Grigory Klumov, commenting on the collaboration with XRP Ledger, “another brick has just been added to the EURS foundation.” The partnership will solidify the digital asset for the next cycle of stablecoin adoption in the market.
“As part of the partnership, we will focus on exploring new opportunities for XRP to provide financial inclusion, as well as the infrastructure and functionality of the stablecoin, which are fully consistent with the values of the Web3 sphere,” he continued.
In the meantime, Ripple will provide technical support to STASIS. This important step helps identify a viable alternative to stablecoin-related products, according to STASIS.
EURS are ERC-20 format tokens, most of which are dedicated to the main Ethereum network and second-tier solutions. A smaller amount is distributed through the Algorand and XRP Ledger blockchains. The stablecoin is “fully backed by euros held on the issuer’s reserves.
STASIS plans to be the transition from financial services on Web2 to Web3. In addition, the project offers commercial use cases for the stablecoin: acquiring, DeFi lending, money transfers, and white label corporate settlements. The STASIS project is the issuer of the largest EURS stablecoin, not pegged to the dollar, which is one of the top ten stablecoins in the world.
The euro-pegged stablecoin was announced in the XRP Ledger in February. According to Klumov, the partnership is focused on exploring options for providing customers with “greater financial access to the infrastructure and functionality of the stablecoin.”
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