The first project to issue a stablecoin backed by the euro. STASISannounced the availability of EURS on the Stellar blockchain. The partnership was announced in November last year. This strategic initiative not only increases the usability of Euro stablecoins but also highlights STASIS’s commitment to multi-chain development.
Innovations that EURS will bring to Stellar
The introduction of EURS to the Stellar network addressed the need for a reliable and proven Euro stablecoin. Well established for five years, EURS serves business and retail users in 175 countries.
What makes the Stellar network different is its ability to provide fast, low-cost and efficient payments. Its decentralized protocol connects individuals, institutions and payment systems worldwide. Integration of STASIS with Stellar expands the EURS user base and extends the benefits of the Stellar ecosystem. Stellar has made strides in fast transactions, low fees, and scalability, a partnership that is in sync with STASIS’ mission to provide a stable and accessible digital version of the Euro.
One of the important features of EURS is that it is fully backed by reserves and these reserves are kept securely by the Central Bank of Lithuania. The fact that it is audited by BDO, a world-renowned auditor, makes this project safer.