Ripple integrates EURS, the main euro stablecoin
STASIS’s EURS is one of the biggest euro stablecoins around and has caught the attention of Ripple (XRP). The company just announced that it is integrating the stablecoin into its public blockchain, Ripple Ledger. What drives interest in a fixed asset based on the euro?
Ripple Ledger integrates STASIS EURS
As mentioned in the press release of STASIS, EURS It was thought of as a “multi-chain” stablecoin. Its integration with the XRP Ledger is therefore in line with its ambitions, comparable to Tether (USDT) on the dollar stablecoin side. However, so far its EURS has been mainly in Ethereum (ETH) and the Arbitrum, Matic and XDai consortia. We also noted that it was launched on Algorand (ALGO).
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After this, EURS will be available on the Ripple blockchain. STASIS teams explain this choice by the performance of the latter:
“We found it [XRP Ledger] is a blockchain that provides significant benefits such as advanced scalability, improved speed, and reduced costs.»
Of course, Ripple’s connections are also of interest to STASIS with companies and institutions. Unlike dollar stablecoins, which are particularly scrutinized at the moment, no euro stablecoin has ever really broken. And STASIS believes that its EURS has all the advantages to make a name for itself:
“EURS has found its place as a reliable asset in the euro stablecoin segment, which sees very few competing Fintech products.»
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Really the biggest stablecoin?
A STASIS press release states that the EURS “the largest stablecoin” from. However, according to data published by CoinGecko, EURS is preceded by Tether’s EURT, has a capitalization of more than 200 million euros, against 122 million for its counterpart in STASIS. However, note that EURS has a higher transaction volume (€6.4 million vs. €2.3 million for EURT). Different figures on CoinMarketCap, where EURT is listed with a capitalization of 39 million euros.
However, STASIS shows its ambitions. Cryptocurrency markets they will eventually become more euro stablecoins ? In an ecosystem where dollar stablecoins are king, that remains to be seen.
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Sources: Stasis via Medium, CoinGecko
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