Stasis Launches New Currency Project EURUS On DSX Exchange
The Stasis project of Malta recently launched a brand-new stablecoin, EURS, during an event at the Maltese Chamber of Commerce. In a sign of support for cryptocurrency market, the Prime Minister of Malta attended the launch, with President Marie-Louise Coleiro Preca posting pictures from the event on the government website. It will be pegged at a 1:1 level against the Euro.
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. EURS will be available for purchase on the London-based exchange DSX from July 4 onwards. The team at Stasis thinks that other major cryptocurrency exchanges will follow the trend in upcoming months.
CEO and founder of Stasis, Gregory Klumov said that there was considerable demand from institutional investors for such a stable coin. He said:
“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.
Such investors participate in ICO’s and with fiat banking systems, you can’t execute a transfer immediately which is essential for such investments. EURIS allows you this kind of flexibility to execute transactions immediately in a transparent manner. Our reserves are verified daily so every investor will have confidence that the tokens issued are backed up.”
Malta recently passed new laws in parliament in a bid to become an even more hospitable destination for crypto projects. The country’s lawmakers are set to approve several bills regulating ICOs, cryptocurrency exchanges, and the overall blockchain sector. This favorable regulatory climate has also supported the launch of the Stasis project and its new digital asset.