STASIS EURO (EURS) Cryptocurrency Market Data and Information

What is STASIS EURO (EURS)?

STASIS EURO (EURS) is a cryptocurrency stablecoin designed to mirror the value of the Euro. Launched in 2018 by the STASIS Foundation, EURS aims to bridge the gap between traditional finance and the decentralized world of cryptocurrencies. Unlike many cryptocurrencies with volatile price swings, EURS maintains a stable value by being collateralized 1:1 with Euro reserves held in regulated financial institutions. This means that for every EURS token in circulation, there is an equivalent amount of Euros held in reserve, providing a reliable peg to the Euro’s value. STASIS itself operates as a financial technology platform based in Europe, offering a “Stablecoin-as-a-Service” framework to enable compliant issuance of digital assets backed by fiat reserves. The operational leadership and reserve management are conducted by STSS Malta. By offering a stable, Euro-denominated digital asset, EURS seeks to facilitate various applications, including payments, DeFi integration, and enterprise finance, providing a stable alternative in the often-turbulent cryptocurrency market.

EURS distinguishes itself as a euro-denominated stablecoin with a focus on transparency and regulatory compliance. The project emphasizes daily reserve reporting, regular third-party audits, and an on-chain transparency structure to assure users of its stability and backing. This commitment to transparency is reinforced by quarterly verifications and annual audits conducted by firms such as BDO, ensuring that the circulating supply of EURS is always fully backed by corresponding Euro reserves. EURS is available across multiple blockchain networks, including Ethereum, Polygon, Algorand, XRPL, and XDC, making it accessible across a wide range of platforms and applications. This broad availability enhances its utility and usability, supporting its adoption by both retail users and financial institutions.

How Does EURS Work?

EURS operates as a fiat-collateralized stablecoin, meaning its value is directly tied to and backed by a reserve of traditional fiat currency – in this case, the Euro. This approach is designed to provide price stability, distinguishing EURS from cryptocurrencies whose values can fluctuate dramatically based on market sentiment and supply-demand dynamics. The core mechanism involves maintaining a reserve of Euros equivalent to the total supply of EURS tokens in circulation. These reserves are held in liquid Euro accounts within regulated partner institutions and are managed with the approval of the STASIS Foundation. When new EURS tokens are issued, an equivalent amount of Euros is added to the reserve, and when tokens are redeemed, the corresponding Euros are released from the reserve, ensuring the 1:1 peg is maintained.

A crucial aspect of EURS’s operational framework is its commitment to transparency and accountability. To maintain trust and verify the integrity of its peg, EURS employs a multi-tiered audit structure. This includes daily reserve account statements that provide up-to-date information on the reserve balance. Quarterly, third-party verifications are conducted to independently confirm the accuracy of the reserve data. In addition, annual financial audits are performed by reputable audit firms to provide a comprehensive assessment of the stability and security of the reserve holdings. On-demand attestations are also available for institutional clients. These comprehensive measures ensure that the circulation data is available on-chain and can be independently verified against the reserve balances, promoting public accountability and bolstering confidence in the stablecoin’s backing.

EURS Key Features and Technology

EURS boasts several key features and technological aspects that contribute to its functionality and appeal as a stablecoin. One of its primary strengths is its broad compatibility with multiple blockchain networks. EURS is available on various platforms, including Ethereum, Polygon, Algorand, XRPL, and XDC, as well as via bridges like Arbitrum and Gnosis Chain. This multi-chain support enhances its accessibility and integration within the broader crypto ecosystem.

Key features:

• Fiat-Collateralized Stability: Maintains a 1:1 peg to the Euro with full reserve backing.
• Transparency and Auditing: Features daily reserve reports, quarterly verifications, and annual audits by third-party firms like BDO.
• Multi-Chain Support: Operates on multiple blockchains like Ethereum, Polygon, Algorand, XRPL, and XDC.
• Stasis Bridge: Facilitates cost-efficient transfers of EURS across different blockchains using Hash-Time Locked Contracts (HTLCs).
• Stasis Wallet: Non-custodial mobile wallet supporting multiple cryptocurrencies and DeFi connectivity.

The STASIS Bridge enables cost-efficient transfers of EURS across different blockchains, minting and burning tokens on supported chains to preserve the 1:1 parity across networks. It employs Hash-Time Locked Contracts (HTLCs) for secure, trust-minimised transfers with on-chain verification. This is expected to transition from a centralized, permissioned model to a decentralized framework based on smart contracts. Stasis also provides the Stasis Wallet, a non-custodial mobile wallet that supports EURS and other digital assets like Bitcoin, Ethereum, USDT, USDC, and DAI. The wallet gives users full control over their private keys and includes features like multi-asset support, delegated transfers (paying gas fees with EURS or ETH), and DeFi connectivity through WalletConnect.

What is EURS Used For?

EURS serves multiple purposes within the cryptocurrency and traditional finance ecosystems. Primarily, it functions as a digital Euro, offering a stable and reliable means of conducting transactions in a Euro-denominated format. This is particularly useful in scenarios where price stability is crucial, such as:

• Payments and Remittances: EURS facilitates low-cost, cross-border transactions, eliminating the need for traditional banking infrastructure and associated fees.
• Store of Value: In the volatile cryptocurrency market, EURS provides a stable digital asset for holding funds, offering protection against the price swings often seen in other cryptocurrencies.
• Hedging: Traders and investors can use EURS to manage exposure in trading strategies that require Euro-denominated stability, hedging against potential currency fluctuations.
• DeFi Integration: EURS is integrated into various decentralized finance (DeFi) protocols, enabling staking, lending, liquidity provision, and yield generation opportunities.
• Enterprise Finance: Organizations can use EURS for payroll, treasury management, and settlement in both crypto-native and traditional sectors, streamlining financial operations and reducing transaction costs.

EURS is also integrated into the Stasis Bridge, which facilitates seamless cross-chain value transfers. This capability enables users to move EURS between different blockchain networks in a capital-efficient manner, enhancing its utility and integration within the broader decentralized ecosystem. The combination of these use cases positions EURS as a versatile tool for a wide range of applications, from everyday payments to complex financial operations.

How Do You Buy EURS?

Purchasing EURS involves a few steps and can be done through various cryptocurrency exchanges that list the stablecoin. The process typically involves creating an account on a supported exchange, completing any necessary KYC (Know Your Customer) verification, and then funding the account with either fiat currency or another cryptocurrency. Here’s a general overview of the process:

1. Choose a Cryptocurrency Exchange: Select a reputable exchange that lists EURS. Some popular options include exchanges like Binance, Kraken, and KuCoin, though availability may vary depending on your geographic location.
2. Create an Account: Register an account on the chosen exchange. This usually requires providing an email address, creating a strong password, and agreeing to the terms of service.
3. Complete KYC Verification: Most exchanges require users to verify their identity through KYC procedures. This typically involves providing personal information, uploading identification documents (such as a passport or driver’s license), and sometimes providing proof of address.
4. Fund Your Account: Deposit funds into your exchange account. You can usually deposit fiat currency (such as USD or EUR) via bank transfer, credit card, or debit card, depending on the exchange’s supported methods. Alternatively, you can deposit another cryptocurrency, such as Bitcoin (BTC) or Ethereum (ETH), which can then be used to trade for EURS.
5. Purchase EURS: Once your account is funded, navigate to the trading section of the exchange and search for the EURS trading pair (e.g., EURS/EUR or EURS/USDT). Place an order to buy EURS using your deposited funds. You can typically choose between a market order (which executes immediately at the current market price) or a limit order (which executes when the price reaches a specified level).
6. Secure Your EURS: After purchasing EURS, it is recommended to transfer it to a secure wallet where you control the private keys, rather than leaving it on the exchange.

How Do You Store EURS?

Storing EURS securely is crucial to protect your investment. Since EURS is available on multiple blockchain networks, the storage options vary depending on the specific network you are using. Generally, you can store EURS in either a software wallet (also known as a hot wallet) or a hardware wallet (also known as a cold wallet). Here’s a breakdown of the available options:

Software Wallets:

• Stasis Wallet: The official non-custodial mobile wallet developed by the Stasis team supports EURS and other digital assets. It offers multi-asset support, delegated transfers, and DeFi connectivity. It is available for both Android and iOS devices.
• MetaMask: A popular browser extension and mobile wallet that supports Ethereum and other Ethereum Virtual Machine (EVM) compatible networks, including Polygon and Gnosis Chain. You can add EURS as a custom token to your MetaMask wallet.
• Trust Wallet: Another mobile wallet that supports multiple blockchain networks and cryptocurrencies, including EURS on various chains.
• Other Mobile/Desktop Wallets: Many other mobile and desktop wallets support EURS, depending on the specific blockchain network. Be sure to choose a reputable wallet with a proven track record of security.

Hardware Wallets:

• Ledger: A popular hardware wallet that supports a wide range of cryptocurrencies, including EURS on Ethereum and other supported networks. Hardware wallets provide an extra layer of security by storing your private keys offline.
• Trezor: Another well-known hardware wallet that offers similar functionality to Ledger, supporting EURS on various blockchain networks.

When choosing a wallet, consider the balance between convenience and security. Software wallets are generally more convenient for frequent transactions, while hardware wallets offer enhanced security for long-term storage. Always ensure that you back up your wallet’s seed phrase or private keys in a safe and secure location, as this is the only way to recover your funds if your wallet is lost or damaged.

Future Outlook and Analysis for EURS

The future outlook for EURS appears promising, driven by the increasing demand for stablecoins and the ongoing integration of digital assets into the mainstream financial system. As a Euro-denominated stablecoin with a strong emphasis on transparency and regulatory compliance, EURS is well-positioned to capture a significant share of the European market and beyond. The project’s commitment to daily reserve reporting, quarterly verifications, and annual audits provides a level of trust and accountability that is crucial for attracting both retail and institutional users. This transparency, combined with its availability on multiple blockchain networks, enhances its accessibility and utility within the broader cryptocurrency ecosystem.

EURS has the potential to play a significant role in facilitating cross-border payments, DeFi applications, and enterprise finance solutions. As regulatory frameworks for digital assets continue to evolve, EURS’s proactive approach to compliance could provide a competitive advantage. The development and expansion of the Stasis Bridge will also play a crucial role in its future growth, enabling seamless transfers of EURS across different blockchain networks and enhancing its interoperability with other DeFi protocols. However, EURS also faces challenges, including competition from other stablecoins and the need to adapt to changing regulatory landscapes. Maintaining the 1:1 peg to the Euro and ensuring the security of reserve assets are ongoing priorities. Overall, the future outlook for EURS depends on its ability to maintain its stability, transparency, and compliance while continuing to innovate and expand its ecosystem.

References

• CoinGecko: https://www.coingecko.com
• CoinDesk: https://www.coindesk.com