Popular Euro stablecoin company Statis secured technical support from Ripple to run its Stablecoin on XRP ledger.
STASIS EURO (EURS) is a Euro stablecoin. Stasis is a back-end company behind this stablecoin. Each EURS aims to remain pegged exactly equal to the value of 1 Euro so that crypto Investors can easily move funds from one crypto exchange to another without any risks of value volatility. EURS is available on the Ethereum network but now it is seeking to get live on other efficient crypto networks.
On 1 November, Stasis company announced through a Medium blog post that devs completed the integration-related works of EURS on XRP Ledger.
Gregory Klimov, the chief executive officer of Stasis, said that the latest steps by the company will add a new brick in the growth of EURS, and also it was necessary for this stablecoin in the new adoption cycle.
Further CEO said:
“Our ongoing partnership will focus on exploring the newly-emerged opportunities of XRP to enable a better financial inclusion as well as stablecoin infrastructure and services that truly align with the values of the Web3 realm.”
The Stasis company also said that XRPL support will make EURS different in the Euro stablecoin market and also it will help the users to facilitate EURS transactions easily on different chains with ease & also at a low cost.
It is worth noting that Markets In Crypto (MiCA) almost completed its crypto framework development work and it is expected that newly designed laws will come into effect by the next year. In the newly designed crypto regulatory framework, there is better room for the Euro-pegged stablecoins but not for the US dollar-pegged stablecoins, so here we can expect that the integration of EURS into the XRP ledger was an important step to push the adoption & use of EURS at a high scale in the crypto market.