STASIS’s EURS is one of the biggest euro stablecoins around, and it caught the attention of Ripple (XRP). The company has just announced that it is integrating the stablecoin into Ripple Ledger, its public blockchain. What arouses interest in a stable asset based on the euro?
Ripple Ledger integrates STASIS EURS
As a press release from STASIS points out, the EURS was thought of as a “multi-chain” stablecoin. Its integration with XRP Ledger is therefore in line with its ambitions, which can be compared to Tether (USDT) on the dollar stablecoin side. Until now, however, its EURS was mainly on Ethereum (ETH) and its consorts Arbitrum, Matic and XDai. We also noted its launch on Algorand (ALGO).
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From now on, the EURS will be available on the Ripple blockchain. The STASIS teams explain this choice by the performance of the latter:
“We found that [XRP Ledger] is a blockchain that provides significant benefits like advanced scalability, improved speed, and reduced costs.»
What also interests STASIS is of course Ripple’s connections with companies and institutions. For the moment, no euro stablecoin has indeed really broken through, unlike the dollar stablecoins which are particularly scrutinized at the moment. And STASIS considers that its EURS has all the advantages to make a name for itself:
“EURS has found its place as a trusted asset in the euro stablecoin segment, who sees very few competitive Fintech products.»
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Really the biggest stablecoin?
The STASIS press release states that the EURS is “largest stablecoin” from the moment. But according to data published by CoinGecko, EURS remains overtaken by Tether’s EURT, which has a capitalization of more than 200 million euros, against 122 million for its counterpart at STASIS. Note, however, that the transaction volume of the EURS is higher (6.4 million euros against 2.3 million for the EURT). Figures that differ at CoinMarketCap, where the EURT is listed with a capitalization of 39 million euros.
Still, STASIS shows its ambitions. The cryptocurrency markets will they eventually turn more to euro stablecoins ? That remains to be seen, in an ecosystem where dollar stablecoins are king.
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Sources: Stasis via Medium, CoinGecko
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