Euro-Pegged Stable CryptoCurrency Launched
A Malta Crypto firm has launched their own digital currency called EURS. EURS is pegged at a 1:1 level against the Euro.
The launch coincided at the same time as Maltese Prime Minister Joseph Muscat announced the new crypto and blockchain legislation that was passed through parliament.
Founder of the company, Stasis, Gregory Klumov said there was considerable demand from institutional investors for the stable coin:
“We received a lot of interest from institutional investors – these want transparency and security first and foremost. There are also those investors who want to reduce the volatility of their portfolios and are looking for a stable coin to do so. EURIS allows you this kind of flexibility to execute transactions immediately in a transparent manner.”
EURS aims to address a growing demand from European institutional investors towards cryptocurrencies. The stable coin will provide a trustworthy haven during excessive periods of cryptocurrency market volatility while also enabling a free off-chain transfer of assets via a blockchain.
STASIS is a fully compliant blockchain platform that lets investors tokenize any form of financial assets. Through its transparent and regulatory adhering network of partners, STASIS platform allows capital to flow freely between off-chain and on-chain forms of digital assets.
Stable Coins are a multi-billion dollar market which is likely to grow exponentially once institutional cryptocurrency traders and hedge funds enter the field, seeking cryptocurrency assets that mitigate volatility and risk.
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