- STASIS, a euro-backed stablecoin issuer, completed XRP ledger integration.
- The CEO states that the partnership will focus on exploring the newly-emerged opportunities.
- EURS cemented its position as the most trusted asset by 2022.
On November 1, STASIS, a euro-backed stablecoin issuer, completed integrating the XRP ledger for its flagship stablecoin, EURS. According to STASIS, the integration, which started in February, ended yesterday.
STASIS Integrates Euro Stablecoin On The #XRP Ledger— AltcoinNG (@AltcoinNg) November 2, 2022
The XRP ledger was developed in collaboration with the XRPL community, XRPL Foundation, and Ripple, a leading provider of enterprise blockchain and cross-border payment cryptographic solutions. With this integration, the XRP ledger will open the doors for a myriad of stablecoin use cases.
Expressing his thoughts about the integration, STASIS CEO Gregory Klumov stated that the partnership will focus on exploring the newly-emerged opportunities of XRP. Additionally, he said that the integration will enable better financial inclusion as well as stablecoin infrastructure and services that align with the values of the Web3 realm.
Furthermore, with regard to the completion of the integration, Klumov stated:
Another brick has just been added into the foundation of EURS, and it will solidify our asset for the next cycle of stablecoin market adoption.
As per the STASIS blog, EURS cemented its place as the most trusted asset in the euro stablecoin segment by 2022 in a market where there were few fintech products.
Moreover, the blog states that with the user base being exposed to understanding the risks behind fintech products, many fintech companies that tried to penetrate the market failed to stand the test of time. However, the combination of specific qualities made STASIS-issued stablecoin stand out from the crowd, reads the blog.
Subsequently, STASIS states: “Following our initial engagement with Ripple earlier this year that provides developers, institutions, and consumers who hold EURS with easy on and off-ramps, we’re happy to confirm the finalization of development and willingness to enter the next stage to start integrating strategies for cross-border payments.”
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