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Ripple Brings Euro-Pegged Stablecoin to XRP Ledger

Ripple is making headlines as we speak in relation to the euro-pegged stablecoin. Check out the latest reports below.

Ripple reveals exciting details about euro-pegged stablecoin

It’s been just revealed that the team behind the largest euro-backed stablecoin is announcing integration with Ripple Lab’s XRP Ledger (XRPL).

In a new blog post, Stasis, the company behind STASIS EURO (EURS), stated the fact that they have completed integrating EURS into the XRP Ledger.

Stasis CEO Gregory Klumov said the following:

“Another brick has just been added into the foundation of EURS, and it will solidify our asset for the next cycle of stablecoin market adoption. Our ongoing partnership will focus on exploring the newly-emerged opportunities of XRP to enable a better financial inclusion as well as stablecoin infrastructure and services that truly align with the values of the Web3 realm.”

Stasis’s partners include important names such as BitGo and BitFinex.

Just in case that you don’t know, EURS is an Ethereum (ETH)-based stablecoin that aims to remain pegged to the euro on a 1:1 basis. It’s also worth noting the fact that EURS is used as a means of payment and to hedge against volatility.

Stasis said there are various reasons it chose to use the XRP Ledger for EURS.

“The combination of specific qualities makes STASIS-issued stablecoin stand out from the crowd. The latest research conducted by the project team clearly shows EURS to be a superior multichain asset after facilitating a study on the euro stablecoins.”

The firm continued and explained the following:

“Taking into account the direction towards multichain development, we found XRPL to be the very blockchain rails that provide significant benefits such as advanced scalability, increased speed, and lowered cost.”

Other than this, the crypto market looks pretty bloody today, with the most important coins trading in the red. Stay tuned for more news, and keep your eyes on the market.

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