Skip to main content

Malta-Based Company Launches New Euro Backed Stablecoin, EURS



Malta-Based Company Launches New Euro Backed Stablecoin, EURS
With all the controversy and mistrust surrounding Tether (USDT) it's no surprise that a multitude of new alternatives have popped up recently. The latest example is from Malta where a company seeking a local crypto license has launched a Euro-backed stablecoin, EURS.

Stasis Launches EURS
Malta-Based Company Launches New Euro Backed Stablecoin, EURSStasis, a financial tokenization platform, has launched EURS, a new stablecoin built on Ethereum's EIP-20 standard and claimed to be backed 1-for-1 by the Euro. The EURS has begun trading on one exchange already, London-based DSX, and the company says that the order volume is projected to reach $500 million by year's end.

The company adds that EURS was specifically developed to satisfy growing demand for cryptocurrencies from European institutional investors. "EURS bridges the gap between traditional finance and the cryptoeconomy," commented Gregory Klumov, Stasis CEO. "While cryptocurrency trading is currently dominated by individual and retail investors, STASIS and EURS will pave the way for institutional investors to enter the game and begin allocating capital – that's what's needed to take the industry to surpass the trillion dollar mark."

Working Towards a Maltese License
Malta-Based Company Launches New Euro Backed Stablecoin, EURS
Stasis is also revealed to be working towards obtaining a license under Malta's recently approved regulatory framework. Last week, the EU member country enacted three bills into law that are meant to encourage the establishment of cryptocurrency businesses on the island. These include a prohibition on insider trading, market manipulation and misleading ads or ICO whitepapers.

"The Government of Malta has been working diligently and progressively to provide legal certainty to an industry that is currently unregulated", said Silvio Schembri, the Maltese minister responsible for Financial Services, Digital Economy and Innovation. "We therefore welcome any blockchain initiatives such as STASIS that while being innovative, will still respect and encourage compliance and we look forward to the company applying for a licence under our DLT regulatory framework. The Government of Malta wants to create an environment conducive to the development of the blockchain ecosystem that will make Malta the natural destination for businesses operating in this field."

Comments

Post a Comment

Popular posts from this blog

What is iDice?

iDice is a dice betting Dapp fueled by the use of the Ethereum organize. eg. iDice lets in players do several things and having such an innovative new token on the ETHEREUM Platform, we had to write an article about this new project. Guess on the space by the use of keeping up iDice tokens and best of all 100% of all benefit iDice acquires is dispersed among token holders, related to the amount of tokens they dangle. iDice amusement code is decentralized and changeless. Such gigantic building fees highlight a rising requirement for experienced, fair and cast Dapps. iDice iDice is an control which gives a provably affordable and simple, virtual Ethereum dice betting Dapp. The house edge will be set intensely and token holders have an atypical esteem that is dependably equiva- loaned to the house edge. iDice has a fully simple provide code accessible at etherscan.io. The payout of recreations is many times speedy. Provably Fair iDice uses open provide blockchain...
Post a Comment
Read more

DENT: THE World First Tokenizing Portable Information Trade

You may be confused on all the exciting Ethereum projects, but therefore i make sure to follow allof them and choose the best for you. If you want to read about a more interesting project, then DENT is the way to go. I will be able to advice on a few tokens that can be bought out there which clearly we likewise might occu : Estimated token incentive on ETH presented within the token deal: 152,000 ETH (Relying on sorts via crowdsale) 100 Billion (100,000,000,000) the amount of DENT Tokens made, of which 70% is bought on token deal, a minimum of 35% can be stored for customers with littler spending plans. For the ones of you who're eager about ico smartcontract prolong that we regularly listen in non-obligatory cryptographic cash or altcoin without a doubt no longer outdoor to the workings of undertakings like this. Evaluated swapping scale: 1 ETH = 400,000 DENT 30% will keep on DENT Wi-fi for DENT shopper motivating forces and compensations Bills may well be made via ETH...
Post a Comment
Read more

Fake Libra scams pose new challenge for Facebook

Almost a year after Facebook's Libra was first announced, the outlook for the stablecoin looks starkly different. Once hailed as a game-changer for digital currency, the project has been beset by delays and regulatory difficulties. Now, fake Libra scams are presenting an increasingly pressing new challenge for Libra and Facebook, with a proliferation of websites claiming to offer investment schemes denominated in fake Libra tokens. Dante Disparte, Deputy Chairman and Head of Policy and Communications for The Libra Association, said the organization was now constantly working to suppress fake Libra scams: "As we become aware of these sites, we work diligently to address them. We respond to inquiries concerning the validity of these pages, indicating that the only official website is Libra.org." "We are still in the early stages of this project and work to address issues like these as they arise," Disparte told Finance Magnates, urging people to report the scams. ...
Post a Comment
Read more