Stasis has announced its new collaboration with Ibandirect to create a dedicated solution for the EURS stablecoin, which now has a virtual IBAN and a VISA prepaid card.
Independent collaboration between Stasis and the company Cardbit
🚀This crypto-friendly solution with a virtual IBAN and VISA prepaid card broadens the horizon and expands the use case scenarios.
— STASIS/EURS (@stasisnet) September 13, 2021
“We are thrilled to announce that EURS is now available on Ibandirect! This crypto-friendly solution with a virtual IBAN and VISA prepaid card broadens the horizon and expands the use case scenarios. Explore features and get your new card here: https://ibandirect.com“.
With Ibandirect, every user will be able to order a prepaid card to spend their crypto. Specifically, this is a collaboration between Stasis and the company Cardbit OU, an official service provider for VISA and registered as an independent sales organization of the prepaid program.
And so Stasis Euro (EURS), one of the first stablecoins pegged to the value of the euro, has decided to take advantage of the service, adding itself to the list of offered crypto assets.
In this way, EURS is a candidate to be adopted in the various fields of application of Ibandirect such as sports betting sites, poker, casino, deposits and withdrawals from cryptocurrency exchanges and sending funds between trading partners.
EURS and Ibandirect: a solution to expand the stablecoin
The new collaboration between EURS and Ibandirect is not the latest news from Stasis. Recently, the stablecoin has found a new way to enter the world of Decentralized Finance (DeFi).
This is the collaboration between EURS and DFX Finance, announced at the end of August:
It's time to explore more options to interact with your favorite #stablecoin in Decentralized Finance! Check #EURS farming available on the @DFXFinance Polygon network!#DeFi #cryptocurrency #Polygoon #STASIS #cryptocurrency pic.twitter.com/AM1188FkDt
— STASIS/EURS (@stasisnet) August 31, 2021
“It’s time to explore more options to interact with your favorite stablecoin in Decentralized Finance! Check EURS farming available on the DFXFinance Polygon network!”
DFX Finance, powered by Chainlink, will soon use the Polygon network to be a fully-fledged decentralized exchange (DEX). Here’s how the platform describes it:
“DFX Finance is the DEX specifically for fiat-backed stablecoins such as USDC, CADC, EURS, and more. By bringing its decentralized protocol to Polygon, DFX Finance can achieve its goal of providing institutional FX rates to retail investors with cheaper and faster transactions.DFX Finance is powered by Chainlink as it gives the reference point for the bonding curve of various stablecoins. With Polygon, users will be able to trade assets such as $CADC, $EURS, and $XSGD at significantly lower costs”.
EURS and the growth of Polygon’s crypto marketplace
The link between EURS and the scaling platform Polygon (via DFX Finance), could indeed lead the stablecoin to achieve its much-desired expansion.
At the time of writing, the stablecoin created by Stasis does not seem to be riding the wave of the first crypto assets. Its total market cap amounts to almost $105 million compared to the $68 billion of Tether (USDT), the first stablecoin in the entire crypto scene.
However, if compared to the new euro-anchored stablecoin of Tether (EURt), which was only launched this summer 2021 with a total market cap of $48 million, then EURS comes out on top.
Just today, Polygon announced a partnership with EY or Ernst & Young, chosen precisely to be Ethereum’s Layer 2 for making transactions fast and cheap.
Coinbase also joins the list of those interested in Polygon, so much so that it announced last week that integration on its platform is in the works.