“A ‘stablecoin’ is a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar, euros or gold, to stabilize the price.” CoinDesk

The importance of the stablecoin topic continues to grow in the emerging cashless society and the world grasped by the looming financial crisis. Unlike thousands of exciting cryptocurrencies, stablecoins represent a different asset class. Being free from volatility and the promise of fast gains, such assets became a safe harbor for investors and a suitable option to dip toes in crypto for institutions. Running a stablecoin project is a tough business. Very few succeeded in this field as there have been more than 200 stablecoin projects announced since 2017 and only 30% of the stablecoins ever released continue to exist according to the data collected by Blockdata research.

Recently, Blocktane listed EURS, offering a great trading opportunity either for Blocktaners to acquire stable positions in Euros as well as to enjoy trading strategies to make markets or arbitrage against global euro-denominated markets.

The stable asset is issued by STASIS, a foundation focused on addressing what they perceived to be the primary bottleneck for stablecoin creation, an E-money 2.0 regulatory framework. Since its inception, STASIS has been working with regulatory bodies to help them develop blockchain regulations that reduce uncertainty for companies while protecting consumers and ecosystem stakeholders.

A rare combination of financial, legal, and technical expertise is a must-have for success when it comes to stablecoin products. Malta-based STASIS nailed this thing and continues to promote its initiative by further developing its euro-backed stablecoin.

It is fundamental to keep EURS backed by 1:1 to the Euro. STASIS provides an unrivaled level of reserve transparency so that investors can always be confident that their digital assets are fully backed by the appropriate collateral:

●       Daily account statements

●       Monthly verifications by BDO Malta

●       Quarterly audits by BDO Malta

●       On-demand verification for an onboarded entity

During the last month, EURS circulating supply experienced a substantial increase of more than 40%. The current balance is 67,459,957 EURS as stated on the new official website.

STASIS also offers direct access to Euros through their Swiss partner SCB Exchange where users can transfer in or out of their bank accounts to create or redeem EURS. EURS is also the first non-dollar stablecoin on many advanced Decentralized Finance (DeFi) protocols such as Curve. fi, and other automated market makers and liquidity pools.

Stablecoins are getting more importance in the digital asset field. As of May 2020, these assets were worth more than $10 billion. In 2021, their share grows. The current size of the stablecoins sector is now more than $90 billion, representing 4% of the total cryptocurrency market cap. In countries like Brazil, many people are turning to stablecoins as an alternative to their national currencies in uncertain economic conditions and for an instant, round-the-clock fiat transfer alternatives. Meanwhile, in Hong Kong, some people are using stablecoins to avoid new internet censorship in a tumultuous political climate.

Independent of the use case most relevant to you, Blocktane and STASIS are dedicated to providing you the most resilient, secure, and professional services. To celebrate it, we are announcing a 1,000 EURS giveaway on June 21st to be proportionally distributed among all Blocktane accounts according to their EURS holdings (all blocktaners that hold balances of 10 EURS or more on June 20th will be gifted with additional EURS on June 21st). Start accumulating EURS now to compound your EURS holdings!