HitBTC Adds Euro-Pegged EURS Stablecoin For Crypto EUR to Crypto USD Trading
Nearly a week ago, cryptocurrency exchange, HitBTC announced that it will be listing the EURO stable coin on Twitter. Since then, it has been noted that many consumers, namely institutional investors have preferred the coin, as it allows their portfolios to resist fluctuations. Another factor that makes EURS attractive is the fact that it is the first of its kind, as it is a Euro-based token that is traded against the USD.
STASIS, a Malta-based crypto firm that works towards combining both traditional and crypto markets into one, is responsible for the EURS Stablecoin and its CEO, Gregory Klumov trusts that it would gain popularity due to its stability factor. In particular, he shared the wants of investors and how EURS can satisfy them:
“Those investors who want to reduce the volatility of their portfolios and are looking for a stable coin to do so. Such investors participate in ICOs and fiat banking systems, you can’t execute a transfer immediately which is essential with such investments.”
Klumov strongly believes that the transparency and flexibility that EURS can offer during transactions is one of several reasons why the stable coin has been accepted by many in just a week’s time.
Acknowledging the fact that many investors have praised EURS, HitBTC also issued a statement that appreciated STASIS for sustaining the investment needs of various investors. The crypto exchange mainly emphasized the fact that:
“The project [EURS] has already been highly appraised in media for taking the stablecoin transparency standards to the next level. […] The coin maintains the benefits of both traditional instruments of finance and crypto-markets. STASIS EURS is a stablecoin, aimed to offer the users highest liquidity on exchanges, from crypto to fiat and back.”
Klumov also shared EURS’ success with CCN, in which he stated that they have “sold $2 million worth” of the stable token, adding that HitBTC’s contribution will ultimately help EURS “become the stablecoin for investors and money market operators.”
As per Coin Speaker’s reporting, HitBTC was earlier criticized by John McAfee, Founder of McAfee Cybersecurity. It appears that the latter blamed the former for having power it should not and misusing it. McAfee also gave an example of HitBTC’s use of power, where the founder stated that the crypto exchange “increased suffering for millions of poor people who cannot afford the minimum buy-in since it is greater than their monthly income.”
In response, HitBTC made it clear that it will be taking the necessary measures to fix the issue at hand and also requested McAfee to share ways in which the crypto exchange can ameliorate its services.