STASIS, the top non-USD stablecoin developer, shifts product’s collateral to 100% liquid euro balances

European fintech company STASIS has announced its stablecoin, EURS, will be the first procured in the EU to have its reserves fully backed by cash. Stablecoins are designed to minimise price volatility by pegging to a stable asset, but the lack of transparency and regulation in the industry has led to concerns about the stability of stablecoins. STASIS has addressed these concerns by fully backing its stablecoin with liquid Euro balances, which it claims ensures maximum transparency and security. The company has been committed to transparency since its inception in 2018 and provided 4-stream verifications on the openness and backing of its stablecoin reserves. Intermediate certification by BDO also confirms all STASIS-held assets are in 100% liquid Euro balances. STASIS believes greater transparency and security will ultimately contribute to wider adoption and use of stablecoins across the cryptocurrency ecosystem. Its move to back its stablecoin entirely with cash reserves should provide greater confidence and security for stablecoin users.

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