In an era characterized by remarkable innovation and technological evolution, the advent of blockchain technology a decade ago often goes unappreciated, yet its impact has been profound. We find ourselves amid a tumultuous shift in numerous sectors, and the financial domain being one of the most drastically transformed. Any established pillars, such as gold and conventional fiat money, are seen as outmoded by the new generations, with cryptocurrencies such as stablecoins swiftly taking center stage.
We’ve been witnessing exciting industry developments from the front-row seat as, on the 22nd of June, we celebrate the fifth anniversary of the first EURS emission. Over these turbulent years, the STASIS team has worked tirelessly, accumulating numerous achievements worth highlighting.
Summary
What is EURS today?
For those who may need to become more familiar, STASIS is a fintech company that provides a seamless transition from Web 2.0 to Web 3.0 financial services. We have set our mission from the very start: to provide a safe harbor and stable environment for digital asset market players. EURS is the first euro-backed digital asset, combining the benefits of the world’s second-most traded currency with the transparency, immutability, and efficiency of the blockchain, boasting over $6B in transferred value up to date.
During the five years of stablecoin operations, we have sealed over 30 partnerships with exchanges and liquidity providers in various countries. Our partners include custodians, financial intermediaries, payment institutions, blockchain analytics companies, and auditors. We’ve established our institutional-grade infrastructure through partnerships with top banking (BankFrick), capital markets (Exante), data compliance (Chainalysis, Elliptic), and custody (PrimeTrust, BitGo) service providers. Unlike other significant stablecoins that operate on the USD market, EURS exclusively serves the European Union’s needs.
MILESTONE REPORT
Since 2018, we’ve not only managed to hold our ground in the turbulent crypto landscape but also to expand our influence and establish global partnerships while maintaining a positive image in public and regulatory eyes.
Let’s traverse several key milestones together:
- We built the reliable Bridge from Web 2.0 to Web 3.0
We’ve constructed a crucial piece of safe and reliable Web 3.0 infrastructure that blends financial services with burgeoning self-custodial economies, enabling entities to legitimately integrate euro-as-a-service layers, onboard clients, and transfer funds between decentralized finance and the traditional financial ecosystem.
- We set a New Standard for Stablecoin Transparency
Securing verifications from top audit firms was vital for us to reassure our clientele of our transparency. We trust that customers and trading platforms appreciate STASIS’ approach to stablecoin management and cash reserve transparency, as regulation slowly but steadily arrives in the EU. Establishing a partnership with top auditing BDO in Malta was a step in the right direction.
- We Explored Multi-Chain Capabilities
While Ethereum forms the base layer for many stablecoins products, evident network scalability issues have prompted many to seek alternative solutions. We opted to transform EURS into a multi-chain asset to boost competitiveness and performance in DeFi. Today, EURS competes confidently in the DeFi arena with the most extensive euro-denominated staking pools. The multi-chain infrastructure is live on Ethereum, Algorand, Polygon, Ripple, XDC, with several other blockchain rails under development.
- We outmaneuvered the competition
We proudly hold the title of the best and most trusted euro stablecoin in 2023. By meticulously adhering to existing regulations from the outset and educating decision-makers on E-money 2.0, we’ve propelled EURO stablecoin to its current position as the #1 Non-USD asset. Moreover, EURS is set to become the first MICA-compliant asset, raising the bar for the sector!
- We launched the Zero-Gas Stablecoin Wallet
The STASIS wallet app represents an innovative leap forward in stablecoin-focused mobile applications. We created the first mobile wallet designed specifically to enable the seamless usage of stable cryptocurrencies or everyday transactions, thus fostering a new era of financial inclusion in the age of Web3. The app’s core feature is the “Delegated Transfer,” which enables one to pay transaction fees in EURS without the need to buy and hold GAS for transactions. With our stablecoin wallet, we have successfully opened a convenient gateway to crypto for both institutions and mainstream users.
The Next Big Step Forward for STASIS
And what’s next for STASIS and EURS? We’re going to offer… narrow banking services!
Narrow banking is a banking model where banks accept deposits but only invest in safe, short-term, and liquid assets like government bonds. This model restricts commercial lending and speculative activities, aiming to minimize financial crises risk and ensure the safety of customer deposits.
STASIS takes narrow banking to the next level by dramatically reducing counter-party risk by limiting it solely to central banks, which are institutions designed to be fail-proof under any circumstances. Our company provides customers with unparalleled security in this groundbreaking configuration, guaranteeing they can retrieve 99.99% of their funds under any imaginable scenario, which exceeds the standard insurance level of 100.000 euros provided by conventional banks.
Moreover, STASIS offers a consistent and high-quality service for payments. It accomplishes this by bypassing the ever-changing compliance regulations of commercial banks, which can unpredictably shift from crypto-friendly policies to high-risk avoidance, often leaving customers in the lurch.
Finally, our model ensures this volatility doesn’t impact the customers, thereby providing a stable, reliable financial service.
We hope that you will continue this exciting journey with us! You can support our growth by spreading your word, purchasing EURS, and helping us to boost awareness.
