STASIS EURO (EURS) is a stablecoin pegged to the Euro. It is supported by an ecosystem of liquidity providers, custodians, exchanges, payment platforms, and others. EURS was founded by Gregory Klumov in 2018 & developed by the company, STASIS. ^[1][2][3]

Overview

Launched in June 2018, STASIS EURO (EURS) is fully collateralized and backed at 1:1 with the euro, and all EURS tokens are backed by the company’s collateral reserves. ^[4]

STASIS is a European MiCA-regulated fintech company that designs Web3 tools allowing institutional and retail clients to handle digital currencies and public blockchains. STASIS provides tech solutions for businesses offering users the following services: third-party audits, custodial services, smart contract creation, brokerage, trading support, etc. ^[3]

According to company representatives, the STASIS platform aims to bridge the gap between decentralized finance (DeFi) and the off-chain market while professionalizing the industry, paving the way for institutional investors and cryptocurrency hedge funds. To promote transparency, the company provides daily statements from account providers along with weekly verifications and quarterly audits by a top 5 global accounting firm. ^[1]

Stasis Euro (EURS) can be redeemed for Euros via the STASIS platform. The company provides transparency of its reserves through the provision of daily account statements, quarter and annual audits by BDO Malta, and on-demand verification for an onboarded entity. ^[3][15]

The core team behind STASIS consists of Gregory Klumov^[14] (CEO), Anatoliy Knyazev (CTO), and Vyacheslav Kim (CFO). ^[1][3]

Technology

The EURS token is deployed as an ERC-20 token on the Ethereum blockchain, which is secured by a proof-of-stake (PoS) consensus mechanism. In 2021, EURS became available on Ethereum layer-2 chains like Arbitrum, Polygon, Gnosis Chain, Algorand, XRP and XDC Network. Additionally, STASIS EURO complies with existing European regulatory requirements, adheres to AML and KYC verification procedures, and has a partnership with KPMG. ^[1]

Partnerships

STASIS EURO x Ripple

In February 2022, STASIS announced it would issue the EURS stablecoin on the XRP Ledger (XRPL) due to its "scalability, speed, low cost, and carbon neutrality." The partnership would also provide developers, institutions, and consumers who hold EURS with efficient on and off-ramps. ^[5]

“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.”^[5]

STASIS x Mt Pelerin

In April 2022, STASIS and Swiss crypto company Mt Pelerin announced a partnership by launching the direct fiat on- and off-ramp for the EURS stablecoin. This meant STASIS-issued stablecoins could now be exchanged with their fiat counterparts on Mt Pelerin’s website and mobile app Bridge Wallet on the Ethereum and Polygon networks. ^[6]

STASIS x Metamouse

In May 2022, STASIS and European company Metamouse announced a partnership to unravel more use cases for EURS stablecoin in the real world. With the Metamouse app, people are able to use EURS to pay for major invoices; electronics, car spares, insurance, business trips, utilities, and many other bills. ^[7]

STASIS x Geco.one

In June 2022, STASIS and regulated European crypto exchange Geco.one announced a partnership by launching several trading pairs the EURS stablecoin. Through the partnership, both Geco.one and STASIS were able to provide valuable opportunities for traders. On Geco.one, users are able to trade Crypto/USD pairs using BTC, ETH, GEC, USDT & STASIS EURO (EURS) as collateral with all the professional tools needed. ^[8]

STASIS x Bubblemaps

In July 2022, STASIS partnered with Bubblemaps in order to increase transparency on the platform. With Bubblemaps, users are able to explore any DeFi project by showing its top holders as bubbles (one bubble = one wallet). When ETH is transferred between those holders, their bubbles get connected on the bubble map. This gives a very accurate representation of the token distribution. ^[9]

STASIS x Guarda Wallet

In September 2022, STASIS and European wallet developer Guarda announced a partnership by launching support for the EURS stablecoin. STASIS-issued digital assets were made available in the Guarda wallet. ^[10]

STASIS x Yoki Finance

In June 2023, STASIS announced a strategic partnership with Yoki Finance, the Web3 recurring payments platform. The partnership was aimed at expanding payment options within Yoki’s ecosystem and enhancing the flexibility of crypto purchase strategies for users. The partnership between Yoki Finance and STASIS was made to enhance the payment options and investment strategies within the Yoki ecosystem via the EURS integration and recurring payments. ^[11]

STASIS x Propine

On October 30, 2023, STASIS partnered with Propine, Asia’s most trusted, enterprise-grade digital asset custodian licensed by the Monetary Authority of Singapore (MAS) to custody their stablecoin EURS. Propine’s partnership with STASIS and EURS cements Propine’s commitment to provide secure, safe options for institutional clients to access the digital assets ecosystem. ^[12][13]

STASIS will deploy ProTectTM platform, Propine’s hyper-secure, battle-tested custody solution to store and safely manage their assets. The fulfillment of STASIS’ trading requirement for EURS will be accomplished through Daenerys, a trusted partner of Propine, which holds an exemption under the Payment Services Act (“PSA”) granted by the MAS. ^[12][13]

“We are pleased with our association with Propine. We are very strategic in choosing highly credible partners to serve our patrons. Propine provides best-in-class security and compliance that meets the exacting standards of the institutional clients with its robust platform, secure and segregated custody solution.” - Gregory Klumov, STASIS CEO^[12]