STASIS EURS is one of the largest euro stablecoins around and has caught the eye of Ripple (XRP). The company just announced it is integrating stablecoin into XRP Ledger, its public blockchain. What arouses interest in a stable euro-based asset?
Ripple: XRP Ledger integrates STASIS EURS
As a STASIS press release points out, EURS it was considered 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 stablecoin side of the dollar.
Until now, however, its EURS was mainly on Ethereum (ETH) and its consorts Arbitrum, Matic and XDai. We also noticed its launch on Algorand (ALGO).
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From now on, EURS will be available on the Ripple blockchain. The STASIS teams explain this choice with the performance of the latter:
“We found it [XRP Ledger] is a blockchain that offers significant advantages such as advanced scalability, improved speed and reduced costs.“
What interests STASIS are obviously Ripple connections with companies and institutions. For the moment, no euro stablecoins have really broken through, unlike dollar stablecoins which are particularly scrutinized right now. And STASIS believes 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, which sees very few competitive Fintech products.“
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Really the biggest stablecoin?
The STASIS press release states that EURS is “the largest stablecoin“since. But according to data published by CoinGecko, EURS remains overtaken by Tether’s EURTwhich has a capitalization of over 200 million euros, against 122 million of its counterpart at STASIS.
It should be noted, however, that the transaction volume of the EURS is higher (6.4 million euros versus 2.3 million of the EURT). Figures that differ for CoinMarketCap, where EURT is listed with a capitalization of 39 million euros.
However, STASIS shows its ambitions. The cryptocurrency markets eventually they will turn more to euro stablecoins ? It 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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