STASIS, an established leader in euro-backed stablecoin production, today announced it will issue the EURS stablecoin on the XRP Ledger (XRPL) due to its scalability, speed, low cost and carbon neutrality. The partnership also provides developers, institutions and consumers who hold EURS with easy on and off-ramps.
EURS is the leading euro stablecoin and among the top 10 stablecoins globally. Ripple will provide STASIS with the technical support necessary to integrate EURS with XRP Ledger in H2 2022.
“Since STASIS is destined to lead innovation in the stablecoin technology and digital asset space, we are delighted to partner with Ripple as the trailblazer of this realm,” said STASIS CEO Gregory Klumov. “The partnership will focus on exploring options to provide our clients with greater financial access to stablecoin infrastructure and services via the XRP Ledger.”
Built for payments, the XRPL and its built-in decentralized exchange (DEX) can support the issuance of stablecoins with a unique, fungible token functionality called Issued Currencies. Issued Currencies is designed to be the ideal stablecoin platform, providing simple but rich management functionality for the issuer that makes it easy to create, issue and manage any asset—including stablecoins.
“Developers and institutions require easy on and off-ramps to create great user experiences for their crypto products,” said Monica Long, GM of RippleX. “We’re thrilled to support STASIS in bringing EURS to the XRP Ledger, whose DEX enables near-instant, low-cost settlement and liquidity for assets of all kinds.”