STASIS EURS, The First Euro-Pegged Stable Coin, Listed on OKCoin

News and Analysis

OKCoin cryptocurrency exchange announced on Monday it has listed STASIS EURS (EURS), the first euro-pegged stable coin. Authorized OKCoin customers already can deposit and withdraw EURS, while trading is enabled in EURS/USD, EURS/EUR, and EURS/BTC.

Launched  in 2018, EURS is fiat-collateralized, making it a stable digital asset, with each unit transparently backed by euro reserves. The project’s representatives believe that EURS token will mitigate volatility and draw more institutional investors to the cryptocurrency space while offering “a compelling alternative to the USD-backed stable coins that currently dominate the market.”

In physics, stasis refers to the balancing of forces to create equilibrium. With the creation of EURS, the Malta-based STASIS Foundation seeks “to balance the economic forces affecting the crypto market.”

They’ve created an ecosystem of licensed financial intermediaries, top law firms, and global accounting firms. Together, these parties have enabled STASIS to create a comprehensive framework for tokenization that gives EURS the stability of its off-chain fiat counterpart, the Euro.

“By listing EURS on their exchange, OKCoin has broadened access to our institutional-grade stable coin,” explains Gregory Kulmov, STASIS founder and CEO, “and at the same time taken a significant step toward increasing their reach in the European market, where institutional interest in digital assets will continue to grow. We’re excited to be listed on their platform.”

According to Gregory Kulmov, STASIS also plans to launch a tokenized altcoin index which will allow investors to get differentiated exposure with a single trade.

Prior to OKCoin listing, STASIS EURS has been available for trading at a limited number of exchanges, including HitBTC, DSX, Ethfinex, and Ukraine-based Kuna.

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