The Stasis project unveiled a brand-new stablecoin, EURS, during an event at the Maltese Chamber of Commerce at the end of June. In a sign of support for cryptocurrency market, the Prime Minister of Malta attended the launch, with President Marie-Louise Coleiro Preca posting pictures from the event on the government website.
In May, Cryptovest talked to Stasis founder Gregory Klumov, who then presented EURS as a fixed-price asset aiming to take some market share from Tether (USDT).
Malta recently passed new laws in parliament in a bid to become an even more hospitable destination for crypto projects. The country’s lawmakers are set to approve several bills regulating ICOs, cryptocurrency exchanges, and the overall blockchain sector. This favorable regulatory climate has also supported the launch of the Stasis project and its new digital asset.
EURS is the latest addition to the family of fixed-price coins. EURT is an older digital asset that exists on the Ethereum network, along with the more prominent USDT. Another newcomer is the TrueUSD (TUSD) coin, which recently saw its supply dwindle from 88 million to 79 million tokens, indicating that withdrawals and token burns are possible.
Stasis claims that its token is not only pegged to the euro but backed by funds which are regularly verified. EURS is currently linked with London-based exchange DSX and was recently also listed on HitBTC, allowing investors to move the token and potentially buy into a wider array of assets:
EURS is already available for trading in pairings with BTC, as well as a direct pairing with the euro. Fixed-price assets are often linked to exchanges as a workaround to accepting cash assets and facilitating the movement of funds between exchanges. The current supply of EURS, which is an ERC-20 asset, is just 291,000, with the tokens spread across 162 addresses. The Etherscan page for the asset shows a series of relatively small transfers.
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