Stellar Soars with EURS Integration: A Euro-Backed Game Changer

• STASIS has integrated its euro-backed stablecoin, EURS, with the Stellar blockchain, enhancing global access to stable and reliable digital currency.
• The introduction of EURS and the European Reserve Currency (EURC) by Circle on Stellar’s network aims to improve financial inclusivity and expand payment options.

STASIS, a pioneer in euro-backed stablecoins, has achieved a remarkable feat by integrating its flagship product, EURS, with the Stellar blockchain. This strategic move introduces a digital version of the world’s second-most widely used currency to the Stellar network, enhancing the availability of euro-denominated stablecoins that are transparent and reliable. Stellar network noted that:

The reliability and consistency of stablecoins make them highly valuable for everyday transactions and a critical component in the realm of payments. The introduction of STASIS EURO or EURS to the Stellar network is a timely response to this need, offering a market-tested and dependable option amidst the market’s ups and downs not only to Eurozone clients but globally.

A Hub for Efficient Transactions

Stellar’s network is distinguished by its design, which prioritizes efficient, low-cost, and rapid payments. It operates as a decentralized protocol, enabling seamless transactions and connecting individuals, institutions, and payment systems worldwide.

The introduction of EURS, known as STASIS EURO, to Stellar’s ecosystem, addresses the pressing issue of cryptocurrency volatility. By offering a stablecoin option, EURS provides a reliable medium for daily transactions, appealing to clients in the Eurozone and a global audience.

Live on the network: Welcome EURS 🤝 @stasisnet integrates with the Stellar blockchain, bringing a digital version of the world’s second-most used currency. Enjoy transparent, reliable euro-backed stablecoins on the efficient, low-cost Stellar network. https://t.co/3xsjePFXrm

— Stellar (@StellarOrg) November 29, 2023

STASIS’ EURO has cemented its position as a leading asset in the euro stablecoin segment. With a successful history spanning over five years, EURS caters to a diverse clientele, including businesses, traders, and merchants. Its backing by international partners and its adoption in 175 countries underscore its standing as a premier choice in the stablecoin market.

The Integration’s Impact

The integration of EURS with Stellar results from STASIS’ commitment to multi-chain development. Stellar, known for its quick transaction processing and scalability, offers a new avenue for EURS, thereby widening its user base. This strategic move benefits existing EURS users and enriches the Stellar ecosystem, providing access to one of the foremost EURO stablecoins.

EURS is a compliant, regulated stablecoin and one of the largest in the market, with over 6 billion euros transferred on-chain across major blockchains. Its 1:1 backing with liquid euro balances ensures trust and reliability. The integration enables businesses and developers to harness the global euro digital currency with Stellar’s network, characterized by speed, affordability, and reliability. EURS’s 24/7 operational capability facilitates low-cost, near-instant transactions across the globe.

The Emergence of the European Reserve Currency

In parallel, Circle and the Stellar Development Foundation (SDF) have unveiled the European Reserve Currency (EURC) on the Stellar network. Mirroring the USDC model, the EURC maintains parity with the Euro and secures its value with tangible reserves. This innovative Euro-denominated digital currency will revolutionize business and development operations by offering a stable, reliable, and cost-effective medium for transactions.

The Stellar-based EURC, issued by the European Central Bank, is poised to enhance international payments, remittance lanes, treasury management, and humanitarian relief efforts. This integration marks a significant stride towards more inclusive financial services, allowing businesses and developers to provide banking services and conduct transactions instantaneously.

Since its launch, EURC has seen considerable adoption, with notable implementations such as its integration into Ripio, a leading Latin American cryptocurrency exchange. This move has stimulated growth in the European cryptocurrency market and bolstered Bitcoin usage.

Notably, Stellar’s native coin XLM price has seen a decline of 0.42% in the last 24- hours, trading at $0.1193. This change took place amidst a lower-than-average trading volume, even as the coin’s market value has increased.

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